Crypto news

Russian retail is on the verge of a historic shift: the purchase of digital assets — cryptocurrencies and digital financial assets (DFAs) — may become directly available through bank mobile apps. Market experts agree that this is inevitable, but differ on the details: in what format the service will be implemented, when it will launch, and whether it can squeeze out the gray market of exchangers.

What the retail investor will get

The most conservative scenario was outlined by Yaroslav Kabakov, Director of Strategy at IC "Finam." In his view, access through banking apps will appear, but primarily in the form of DFAs. Direct purchase of cryptocurrency remains questionable due to strict regulatory requirements and rigorous compliance.

Roman Nosov from "BCS World of Investments" urges waiting for the final version of the cryptocurrency bill. The initiative, as a reminder, was proposed by the Bank of Russia, with hopes for adoption in the second reading by the end of July. This document will serve as the foundation for the entire infrastructure.

Fyodor Ivanov, Director of Analytics at AML/KYT operator "SHARD," is also confident that retail investors will gain long-awaited access to digital assets. He bases his assessment on the current version of the document from the State Duma website.

Two types of users: who gets banks, and who gets exchanges

The most detailed forecast was provided by Alexander Nam from MTS Fintech. He divided retail clients into two categories: beginners and experienced investors.

For beginners, simplicity, trust, and security are critically important. Banking services will become an ideal gateway for them into the world of digital currencies. They won't need to understand crypto wallets and seed phrases. In this segment, banks have a colossal advantage due to their broad audience, recognizable brand, and familiar interface.

However, experienced traders prefer to work directly with exchanges and DeFi protocols. For them, key factors are favorable exchange rates, high liquidity, and minimal fees. Banks will find it extremely difficult to compete for this audience as long as access to international platforms exists.

Who will launch the service first

According to Alexander Nam, all market participants have equal starting opportunities. However, large banks with developed brokerage infrastructure will be able to scale their business significantly faster. Their main obstacle is the current lack of deep expertise in blockchain technologies.

Fyodor Ivanov adds that virtually all of the country's largest financial organizations have already announced plans to implement cryptocurrency services. After clear rules of the game emerge, small regional banks will also join the trend. For them, this is an excellent opportunity to offer a new service and generate additional income. Currently, sector development is held back solely by regulatory risks.

The gray market of exchangers: will it survive?

Yaroslav Kabakov believes that banks will be able to significantly reduce the share of the shadow sector. However, they will not be able to completely eliminate gray exchange points.

Alexander Nam shares this view. The positions of illegal players will noticeably weaken in the mass segment, provided that convenient and profitable banking products emerge. However, the professional audience will continue to choose anonymity and access to global liquidity pools.

Fyodor Ivanov reminds us of the legal consequences of the reform. After the law comes into force, the activities of unlicensed points will become criminally and administratively punishable. The document provides for the issuance of special licenses. Large exchangers will be able to legalize, although they will have to compete with banks.

Analytical conclusion

All experts agree: retail access to digital assets through banks will become a reality immediately after the bill is adopted. Roman Nosov expects significant progress by the end of July.

At the same time, Yaroslav Kabakov believes that this will primarily involve DFAs, not classic cryptocurrencies. Alexander Nam emphasizes the importance of segmentation: banks will easily replace exchangers for beginners but will lose the battle for professionals.

Speakers assess existing barriers differently. Kabakov and Ivanov highlight regulatory risks, while Nam points to a shortage of specialized personnel.

Opinions on the future of the gray market fully coincide: banks will push out illegal exchangers in the mass segment but will not eliminate them completely.

Expert opinion: Integrating cryptocurrencies into banking apps is a logical step that will legalize a huge layer of retail demand. But the main beneficiary here is not experienced traders, but millions of ordinary users who will gain safe and understandable access to digital assets for the first time. It is this influx of fresh liquidity that will drive the market in the medium term.