Bitcoin
Moscow Exchange to Launch Dollar-Quoted Crypto Perpetual Futures
Russia's primary exchange is introducing synthetic perpetual contracts on major cryptocurrencies for accredited investors, with trades settled in rubles.
The Moscow Exchange (MOEX) will begin listing perpetual futures contracts tied to its proprietary indices on September 22. The new derivatives cover Bitcoin, Ethereum, Solana, XRP, and Tron, and access will be restricted to qualified investors.
The contracts will operate on a cash-settled basis, quoted in US dollars and settled exclusively in Russian rubles without physical delivery of underlying crypto assets. The structure keeps trading within the supervisory scope of the Bank of Russia, which permits financial derivative exposure while upholding a domestic ban on cryptocurrency payments.
According to MOEX, more than 72,000 qualified investors have traded its crypto derivatives since summer 2025, generating over 600 billion rubles (approximately $7.5 billion) in cumulative volume. The exchange notes that dollar-denominated pricing combined with ruble settlement also provides domestic participants with indirect exposure to dollar-ruble foreign exchange movements.
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