Moscow Exchange plans crypto trading launch on December 1

What happened

Moscow Exchange plans to launch crypto trading on December 1, Russia's largest stock exchange said, with testing already under way. Senior managing director Boris Blokhin said the venue is testing with professional traders in a test environment before the capability is implemented in production.

Bitcoin, Ethereum, Solana, XRP and TRON are expected to be the initial cryptocurrencies supported by the exchange. Unqualified investors can buy only Bitcoin, Ethereum and Tether (USDT), up to 300,000 rubles per year, while qualified investors can buy all cryptocurrencies on the platform and over-the-counter markets without an amount limit.

The exchange intends to use its existing trading organizer license and stock-market infrastructure for crypto assets. Settlement will run through a partner digital depository, and Blokhin said the venue does not expect to need an additional permit or license beyond the framework already in place.

Why it matters

The plan brings digital assets into Russia's established securities infrastructure rather than leaving them on specialist venues. The Bank of Russia has begun registering crypto exchange operators and crypto custodians such as Sberbank and VTB Bank, and Sberbank plans to launch its first crypto products on December 1.

Moscow Exchange already offers crypto-linked exposure. It launched perpetual futures tied to Bitcoin, Ethereum, Solana, XRP and TRON indices last month, and those contracts are quoted in US dollars, settled in Russian rubles and limited to qualified investors. Direct trading is a larger step because it puts the underlying assets into the same infrastructure, while retail access stays capped through each intermediary.

What the data shows

• The annual investment cap for unqualified investors is 300,000 rubles through each intermediary.
• Five assets are named for the initial lineup: Bitcoin, Ethereum, Solana, XRP and TRON.
• Sberbank targets the same December 1 date for its first crypto products.

Background

• Russia's cryptocurrency market legislation entered into force in early September, before the planned launch.
• The venue previously introduced perpetual futures tied to assets including Bitcoin and Ethereum.
• Testing began roughly a week ago and will continue ahead of the December launch.

What is still unclear

• Liquidity, available trading pairs, custody arrangements and the user experience remain open questions that will shape whether investors move activity from existing crypto channels.
• The exchange says testing will continue until launch, so settlement and operational systems have yet to be proven in production.

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