Bank of Russia Allows Selected Institutions to Offer Crypto Products
The Bank of Russia will permit selected financial institutions to offer crypto products to institutional and accredited investors. Key points include:
- Products may include crypto derivatives and security instruments.
- Actual delivery of cryptocurrencies is excluded from these offerings.
- In Q1 2025, Russian residents' inflows into crypto assets increased by 51%, totaling 7.3 trillion rubles ($81.5 billion).
Russian Banks Engage in Crypto Services
T-Bank has launched digital financial assets linked to Bitcoin for clients, allowing investments in cryptocurrency through a familiar application without needing cryptocurrency exchange accounts. This offering is available to accredited investors via the Atomyze platform.
The Bank of Russia continues to advise against direct investments in cryptocurrencies, while discussions are underway for an experimental framework for select investors to trade crypto assets directly.
Bank Of Russia’s Crypto Holdings
The Bank of Russia estimates that Russians hold 827 billion rubles ($9.2 billion) in cryptocurrency on centralized exchanges. Breakdown of holdings includes:
- Bitcoin: 62%
- Ether: 22%
- Stablecoins (Tether, USDC): 15.9%
Local enthusiasts suggest actual cryptocurrency ownership among Russians is higher than reported figures. Banking institutions are increasingly interested in cryptocurrencies as regulatory frameworks evolve. In the US, a stablecoin bill is being developed to provide clarity for USD-pegged digital assets.