Moscow Exchange, known as MOEX, is actively pursuing the establishment of continuous cryptocurrency trading. This strategic move arises as the exchange endeavors to expand its digital asset offerings. Reports suggest that discussions between MOEX and various brokers are centered around enhancing trading hours, refining account structures, and optimizing deposit processes.
What are MOEX's plans for 24/7 trading?
MOEX aims to implement a round-the-clock trading schedule, matching the operational hours of leading global cryptocurrency exchanges. The exchange is further investigating the technological infrastructure needed for crypto-specific accounts and has commenced initial testing of crypto deposit and withdrawal features with select brokerage partners. Notably, their digital depository system is anticipated to operate similarly to Russia’s National Settlement Depository, meaning that users might not hold their crypto wallets directly on the MOEX platform.
In its commitment to the evolving crypto landscape, MOEX has recently introduced four new cryptocurrency indices linked to notable assets such as XRP, BNB, Solana, and TRON. This initiative raises the total number of crypto benchmarks on the platform to six, adding to the previously established Bitcoin and Ethereum indices. MOEX has plans to eventually expand its offerings to cover ten distinct digital assets.
What future products will MOEX offer?
These indices are set to serve as foundational elements for future financial products linked to cryptocurrencies. Futures contracts based on these benchmarks are expected to be launched by 2026, initially catering to qualified investors in accordance with Russian financial regulations. The expansion of MOEX's crypto offerings coincides with Russia's preparation to implement a comprehensive regulatory framework for digital assets. This framework will allow for the facilitation of cryptocurrency transactions through licensed brokers and intermediaries.
Recent legislative progress is evident, as a proposal titled Digital Currency and Digital Rights successfully passed its first reading in the State Duma. This law aims to take effect on July 1 and establishes stringent conditions for cryptocurrency trading on Russian exchanges. To qualify for trading, a crypto asset must satisfy specific criteria, including an average market capitalization of over 5 trillion rubles and a minimum daily trading volume exceeding 1 trillion rubles over a two-year period. Furthermore, the asset must demonstrate a trading history of at least five years.
As MOEX leans into the digital asset domain, the exchange not only broadens its market presence but also positions itself as a key player in aligning with evolving regulatory landscapes, signaling substantial opportunities for investors and traders alike.