Banks vs exchangers: when will cryptocurrency appear in mobile apps in Russia
Russian retail will be able to buy cryptocurrency and digital financial assets directly through banking apps, bypassing third-party exchangers. The question is only about the timing and format of implementation.
The market is in a state of anticipation: the country's largest banks are preparing to introduce crypto services, but the key obstacle remains the lack of a clear legislative framework. Experts agree that access to digital assets through familiar banking interfaces will become a reality immediately after the adoption of the cryptocurrency bill. The most optimistic forecasts point to the second reading of the document before the end of July.
What retail will get
According to Yaroslav Kabakov, Director of Strategy at Finam Investment Company, banking apps will primarily offer clients digital financial assets rather than direct cryptocurrency purchases. The reason is strict compliance and regulatory requirements. A similar position is held by Fedor Ivanov, Director of AML/KYT Analytics at the operator "SHARD," who emphasizes that retail investors will guaranteed gain long-awaited access to digital assets.
Two types of users
The most detailed forecast was presented by Alexander Nam from MTS Fintech. He divided retail clients into two categories: beginners and experienced investors. For the first group, simplicity, trust, and security are critical—here, banks have a colossal advantage due to their broad audience, well-known brand, and familiar interface. Beginners will not have to deal with crypto wallets and seed phrases.
Experienced traders, on the other hand, will prefer direct work with exchanges and DeFi protocols. For them, favorable exchange rates, high liquidity, and minimal fees are important. In this segment, banks are unlikely to be able to compete with global platforms.
Who is closer to launch
According to Nam, all market participants have equal starting opportunities, but large banks with developed brokerage infrastructure will be able to scale their business significantly faster. The main obstacle is a shortage of deep expertise in blockchain technologies. Fedor Ivanov adds that almost all major financial organizations have already announced plans to introduce crypto services, and even small regional banks will join the trend.
The gray market of exchangers
With the arrival of banks, the share of the shadow sector will significantly decrease, experts are confident. However, it will not be possible to completely eliminate gray exchange points. Alexander Nam notes that the positions of illegal players will weaken in the mass segment, but the professional audience will continue to choose anonymity and access to global liquidity pools.
Fedor Ivanov reminds of the legal consequences of the reform: after the law comes into force, the activities of unlicensed points will become criminally and administratively punishable. Large exchangers will be able to legalize by obtaining special licenses, but they will have to compete with banks.
Conclusions
All speakers agree on one thing: banks will replace exchangers for beginners but will lose the battle for professionals. Regulatory risks and a shortage of specialized personnel remain the main barriers. At the same time, the gray market will not disappear completely—it will persist for those who value anonymity and global liquidity.
Expert opinion: The market is on the verge of a tectonic shift. Banks will gain a powerful tool for attracting new audiences, but their success will depend on the speed of adaptation and readiness to compete with decentralized platforms. The main question is whether traditional financial institutions can offer products that are not only safe but also technologically competitive.