Russia releases cryptocurrency derivatives for qualified investors

• Cryptocurrency derivatives gain ground in Russian market
• Sberbank launches bonds linked to cryptocurrency prices
• Moscow Exchange Prepares Bitcoin Futures Contracts

The Central Bank of Russia authorized this Wednesday (29) that local financial institutions offer cryptocurrency derivatives, securities and other digital assets linked to the price of these crypto assets. The permission is exclusively aimed at qualified investors, in line with the country's strategy of opening space for new forms of investment with indirect exposure to the crypto asset market.

The decision comes with restrictions. The instruments must be “non-deliverable,” meaning that investors will not receive the digital assets directly, but will have access to the variation in their prices. According to the Central Bank itself, credit institutions must maintain a conservative stance in assessing risks and ensure full coverage with capital, in addition to imposing individual limits per product.

In response to the easing of restrictions, Sberbank, Russia’s largest state-owned bank, announced the launch of structured bonds with yields tied to the performance of cryptocurrencies. The information was reported by Interfax news agency, highlighting the growing interest of the traditional banking sector in exploring financial products related to the crypto sector.

The Moscow Exchange is also making moves and plans to launch a cash-settled Bitcoin futures contract in June. In parallel, the SPB Exchange announced its plans to offer trading in cryptocurrency futures, strengthening the derivatives infrastructure in the Russian market.

In addition, the Russian central bank had submitted a proposal to the government in March to test an experimental regulatory regime, allowing cryptocurrency transactions to investors considered highly qualified. In collaboration with the Ministry of Finance, a brokerage project dedicated exclusively to this restricted audience is also being developed, reinforcing the attempt to balance innovation and regulatory control in the digital assets sector.