The Bank of Russia has allowed financial institutions to offer some cryptocurrency-based financial instruments to accredited investors.
Russian banks are now free to provide qualified investors of a range of crypto products, including crypto derivatives, security and other digital assets tied to crypto prices, the middle bank announced on May 28.
One major stipulation, however, is that these products should not be involved in the “actual delivery of cryptocurrencies,” emphasizing the Bank of Russia.
The announcement arrives next to the Russian bank Reporting A 51% increase in Russian residents’ crypto assets in the first quarter of 2025, covering 7.3 trillion rubles ($ 81.5 billion).
T-Bank Among the first offers of Bitcoin investment products
Some major Russian banks began to roll over cryptocurrency investment products immediately following the Bank of Russia’s announcement.
T-Bank (former Tinkoff Bank), one of Russia’s largest commercial banks, announced on May 29 the Digital Financial Assets (DFA) offering tied to Bitcoin (Btc).
“The tool allows you to invest in cryptocurrency in rubles through a familiar application – safe and within the legal framework of the Russian Federation, without opening an account with an exchange of crypto and difficulty protecting your purse,” the bank said.
The new T-Bank’s “Smart Asset” offer is issued by the Russian supported by the toomization platform that atomyze and available exclusively to accredited investors.
Direct investments in crypto are still not recruited
While local lenders lenders to offer crypto products, Russia’s central bank still maintains a restriction approach to direct cryptocurrency investment.
“The Bank of Russia still does not recommend financial institutions and their clients to invest directly in cryptocurrencies,” the Bank of Russia said in a statement.
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The central bank also mentioned the Continued government discussion In the potential launch of a experimental regime that will allow some investors to convert crypto assets directly such as Bitcoin.
Russia’s estimated CEX holdings are at $ 9.2 billion
In the latest analysis of financial stability, the Bank of Russia estimates the Russian crypto holders to Centralized exchanges (CEXS) in 827 billion rubles ($ 9.2 billion).
According to authorities, Bitcoin is at the forefront of Russia’s CEX handling with a 62% part, including ether (Eth) following 22%. Stablecoins like tether USDT (USDT) and USDC of the Circle (USDC) Rank a third with a portion of 15.9%.
Some local crypto enthusiasts have noted that the actual cryptocurrency figure held by the Russians is greater than the estimated CEX handles reported by the Bank of Russia.
“I know that (Pavel) Durov and (Alexey) Billyuchenko just have more money in their wallets than this amount,” Sergey Mendeleevfounder of digital settlement exchange exved, write on his telegram channel. He announced that the Russians were holding a larger amount of crypto in wallets and decentralized exchanges.
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