Moscow Exchange set to commence cryptocurrency trading for Bitcoin, Ethereum, and USDT on December 1, 2026

The Moscow Exchange's Cryptocurrency Trading Platform Launch

The Moscow Exchange is gearing up to launch a trading platform for cryptocurrency, specifically Bitcoin, Ethereum, and Tether (USDT), starting December 1, 2026. This initiative will leverage the exchange's current stock market framework, marking a significant step in Russia's efforts to develop a regulated cryptocurrency market. The announcement was made by Boris Blokhin, the exchange's senior managing director for sales and business development, during the Smartlab investment conference held in Moscow, as reported on October 31 by RBC.

Testing and Regulatory Framework

Blokhin indicated that the exchange commenced testing cryptocurrency transactions earlier this month with a select group of professional market participants, with plans to include more firms as they become prepared. This initiative follows the introduction of new cryptocurrency regulations in Russia that came into effect on September 1, outlining trading, custody, and investment access protocols.

The exchange's initial focus will be on three cryptocurrencies that align with the Bank of Russia's guidelines for trades accessible to retail investors—Bitcoin, Ethereum, and USDT, the latter being a stablecoin pegged to the U.S. dollar. The trading platform will utilize the existing infrastructure tailored for stock transactions, which is expected to minimize additional costs imposed on brokers and professional market users.

“The rollout of cryptocurrency trading is confirmed for December 1,” noted Blokhin. He added that multiple customers are already engaged in the system testing phase.

Trading Mechanics and Investor Access

Investors will interact with an electronic order book to place their buy and sell orders, with trades executed based on the competition between various bids and offers. Additionally, the Moscow Exchange plans to incorporate swap transactions to aid in liquidity management, drawing parallels to repurchase agreements found in securities markets and common currency trading swaps.

The operating hours for the cryptocurrency trading will mirror those of the traditional stock market, allowing trades from 6:50 a.m. to 11:50 p.m. Moscow time. This service will function under the newly instituted regulatory framework that permits both qualified and nonqualified investors to acquire cryptocurrencies through authorized intermediaries—albeit under different sets of conditions.

For nonqualified investors, a knowledge assessment is mandatory prior to engaging in cryptocurrency purchases, with annual purchasing capped at 300,000 rubles per intermediary. Conversely, qualified investors face no caps on their purchases, but they still must fulfill relevant testing criteria. The specified cryptocurrencies for retail access have been selected based on their trading history, market liquidity, and overall market capitalization.

Current Regulations and Future Prospects

It is crucial to highlight that cryptocurrency payments for usual domestic transactions remain banned in Russia; however, certain allowances exist for legitimate cross-border transactions that utilize digital currencies. The Moscow Exchange also revealed that its existing trading license suffices for the upcoming services, without any need for new approvals.

To facilitate the trading process, partner digital depositories will oversee the custody and accounting of customers' cryptocurrencies, marking a division of responsibilities amidst the influx of registered cryptocurrency exchange operators and digital custodians in Russia, as seen last month. Key early players among them include financial entities tied to Sberbank, VTB, and T-Technologies, all actively working on digital asset services that comply with the new regulations.

Blokhin remarked that the current level of participation from professional entities is encouraging and should support a successful pilot launch come December.

This new venture is expected to enhance the exchange's offerings, which already include financial products that relate to digital asset pricing; notably, in September, the Moscow Exchange launched five perpetual futures contracts linked to Bitcoin, Ethereum, Solana, XRP, and Tron.

In this climate, Sberbank is also preparing to roll out its own cryptocurrency service in December, encompassing trading, custody, and settlement options. Given the recent exodus of foreign cryptocurrency platforms from Russia, Blokhin anticipates robust demand for the Moscow Exchange's new services and emphasized the importance of continual feedback from broker partners during the testing phase to refine the trading environment, further signifying strong investor interest in this growing sector.