Russia Makes Decision That Will Shake Up the Cryptocurrency Market: A New Era Begins for Bitcoin and Four Altcoins!

While regulations for Bitcoin and altcoins continue in Russia, the Moscow Stock Exchange (MOEX) has made a new move.

Accordingly, the Moscow Stock Exchange (MOEX), Russia’s largest securities exchange, announced that it will launch crypto perpetual futures trading for Bitcoin, Ethereum, Solana, $XRP, and Tron.

MOEX Launches Perpetual Futures for 5 Cryptocurrencies!

According to the official announcement, the Moscow Exchange will launch perpetual futures trading linked to $BTC, $ETH, $SOL, $XRP, and $TRX on September 22nd. These new products will only be available to investors defined as “qualified investors” under Russian legislation.

Contracts Indexed to the Dollar, to be Reconciled with the Ruble!

According to MOEX’s announcement, the new contracts will be traded under the ticker symbols BTCUSDF, ETHUSDF, SOLUSDF, XRPUSDF, and TRXUSDF, respectively.

The announcement stated that $BTC, $ETH, $SOL, $XRP, and $TRX will be priced in US dollars, while payments will be processed in Russian rubles. The underlying crypto assets will not be physically delivered to the investor during these transactions.

Interest in Crypto Derivatives is Growing!

MOEX announced that more than 72,000 qualified investors have traded in its first digital asset-linked futures contracts since their launch last summer. Total trading volume has exceeded 600 billion rubles.

At this point, the exchange stated that the new products represent a significant step towards expanding the cryptocurrency derivatives market in Russia.

*This is not investment advice.