Banking apps in Russia: when will cryptocurrency appear and who will benefit from it
Russian retail investors will soon be able to purchase cryptocurrencies and digital financial assets (DFAs) directly through bank mobile apps, bypassing traditional exchanges. This is not a hypothesis but a consolidated opinion of leading market experts, who, however, differ on the details: when exactly the mechanism will launch, in what format, and whether it can completely displace the gray sector.
Two Types of Investors: Who Needs Banks and Who Doesn't
The most detailed forecast was presented by Alexander Nam from MTS Fintech. He divided retail clients into two fundamentally different categories.
For beginners, simplicity, trust in the brand, and security are critically important. The banking interface becomes an ideal gateway to the world of digital assets for them — they won't have to deal with seed phrases and crypto wallets. In this segment, banks have a colossal advantage due to their broad audience and familiar UX.
Experienced traders, on the other hand, prefer direct work with exchanges and DeFi protocols. For them, key factors are anonymity, minimal fees, and access to global liquidity. Here, banks are unlikely to compete unless they offer comparable conditions.
Who Will Launch First and What Is Slowing Down the Process
The initiative to integrate crypto services was put forward by the Bank of Russia, counting on the adoption of the relevant bill in the second reading by the end of July. According to Fyodor Ivanov from the operator "SHARD," almost all major financial organizations in the country have already announced corresponding plans. Following the giants, regional banks will also join in, for whom this will become an opportunity to generate additional income.
The main brakes remain regulatory risks and a shortage of specialized personnel. Yaroslav Kabakov from IC "Finam" believes that access will appear, but primarily in the form of DFAs rather than classic cryptocurrencies — due to strict compliance requirements. Alexander Nam, in turn, points to a lack of blockchain expertise within the banking system.
Gray Market: Displace but Not Destroy
All experts agree on one thing: legal banking products will significantly weaken the positions of illegal exchanges in the mass segment. However, it will not be possible to completely eliminate the gray sector. The professional audience will continue to choose anonymity and global liquidity pools. Moreover, after the law is passed, the activities of unlicensed points will become criminally and administratively punishable, which will force major players to legalize but will not destroy the demand for "shadow" services.
My conclusion: The market is facing a bifurcation. Banks will capture the retail "beginner," offering simplicity and security, but professional traders will remain on international platforms. The key question is whether banks will manage to build up technological expertise before competition from DeFi and global exchanges becomes even more intense.