Moscow Exchange expands crypto derivatives lineup with SOL, XRP, and TRX futures

The Moscow Exchange plans to expand its crypto derivatives offering with new cash-settled futures contracts tied to Solana (SOL), XRP, and TRX, according to exchange officials.

The contracts will be based on newly created indices for each token and settled in rubles, with access limited to qualified investors. Maria Silkina, senior manager in the Derivatives Market Group at the Moscow Exchange, said on Russia’s RBC radio that the exchange will first launch the indices before introducing the futures products.

Under current Russian regulations, derivatives must reference an underlying asset. In this case, the published indices for SOL, XRP, and TRX will serve as those benchmarks.

MOEX already calculates indices for bitcoin and ether and offers monthly cash-settled futures linked to those assets. The new altcoin products will follow the same structure, with no physical delivery of cryptocurrency and settlement conducted in rubles.

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

The move comes as Russia continues to refine its approach to crypto regulation. Lawmakers last month proposed limiting retail cryptocurrency purchases to $4,000, while the central bank has previously outlined a new framework for crypto investors.

However, Russia’s crypto sector continues to face headwinds from international sanctions tied to the country’s ongoing war in Ukraine. In 2022, the United States sanctioned BitRiver, Russia’s largest crypto mining firm, over the invasion, and the company has since warned of potential bankruptcy. Russian authorities have also designated crypto exchange WhiteBIT as “undesirable” due to its support for Ukraine