Moscow Exchange to list new crypto futures tied to SOL, XRP, and TRX

The Moscow Exchange (MOEX) is set to broaden its crypto derivatives offering with the planned launch of cash-settled futures tied to Solana (SOL), XRP, and TRX.

The contracts will be based on newly created indices for each token and settled in rubles, with access limited to qualified investors. Speaking on RBC radio, Maria Silkina, a senior manager in MOEX’s Derivatives Market Group, said the exchange will first introduce the indices, which will serve as the underlying assets for the futures.

Under Russian regulations, derivatives must reference an underlying asset. For these products, the underlying will be the published index for each cryptocurrency.

MOEX already calculates indices for bitcoin and ether and offers monthly cash-settled futures linked to those benchmarks. The upcoming SOL, XRP, and TRX contracts will mirror that structure, with no physical delivery of crypto and settlement conducted entirely in rubles.

The exchange is also exploring the introduction of perpetual futures for bitcoin and ether, which would allow traders to maintain positions without an expiry date. Perpetual contracts are widely used on international crypto exchanges.

The move comes as Russia continues to refine its crypto regulatory regime. Lawmakers recently proposed limiting retail crypto purchases to $4,000, while the central bank has outlined a new framework governing crypto investment.

Despite the expansion, Russia’s crypto sector remains constrained by international 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 it may face bankruptcy. Russian authorities have also labeled crypto exchange WhiteBIT as “undesirable” due to its support for Ukraine.