The Moscow Exchange (MOEX) is preparing to add cash-settled futures contracts linked to Solana (SOL), XRP, and TRX, further expanding its crypto derivatives offering.
The new products will be based on proprietary indices for each token and settled in rubles, with participation limited to qualified investors. Maria Silkina, a senior manager in MOEX’s Derivatives Market Group, said on RBC radio that the exchange will first introduce the indices, which will serve as the underlying reference for the futures contracts.
Russian regulations require derivatives to be tied to an underlying asset, and in this case the published indices will fulfill that role.
MOEX already calculates indices for bitcoin and ether and offers monthly cash-settled futures tied to those benchmarks. The planned SOL, XRP, and TRX contracts will follow the same structure, featuring no physical delivery of crypto and settlement entirely in rubles.
The exchange is also evaluating the launch of perpetual futures for bitcoin and ether, allowing investors to hold positions without an expiration date. Such contracts are widely used on major international crypto exchanges.
The expansion comes as Russia continues to adjust its regulatory approach to digital assets. Lawmakers recently proposed capping retail crypto purchases at $4,000, while the central bank has outlined a revised framework for crypto investment.
At the same time, Russia’s crypto sector remains constrained by sanctions related to the war in Ukraine. In 2022, the United States sanctioned BitRiver, the country’s largest crypto mining firm, which has since warned of potential bankruptcy. Russian authorities have also labeled crypto exchange WhiteBIT as “undesirable” due to its support for Ukraine.
