Russian banks are preparing a breakthrough: cryptocurrency and digital financial assets (DFAs) will appear in mobile apps.
The Russian retail investor is on the verge of a tectonic shift. The purchase of digital assets — cryptocurrencies and digital financial assets (DFAs) — will soon become available directly through familiar banking apps, bypassing illegal exchangers and complex crypto exchanges. This is not just a hypothesis, but a consolidated opinion of leading market experts, who, however, disagree on the exact form and timing of this feature becoming a reality, as well as whether it will be able to completely displace the gray sector.
What will the retail investor get?
The most conservative forecast was voiced by Yaroslav Kabakov, Director of Strategy at Finam Investment Company. In his view, access through banking apps is inevitable, but it will primarily concern DFAs. The direct purchase of classic cryptocurrencies, such as Bitcoin, remains in question for now due to strict regulatory frameworks and stringent compliance requirements. Roman Nosov from BCS World of Investments also joined the discussion, recommending waiting for the final version of the cryptocurrency bill, initiated by the Bank of Russia. The Central Bank expects the document to be adopted in its second reading by the end of July, which will serve as a trigger for the entire industry.
A similar position is held by Fedor Ivanov, Director of AML/KYT Analytics at the operator "SHARD." He is confident that retail investors will guaranteed gain long-awaited access to digital assets, basing his conclusion on the current version of the document published on the State Duma website.
Two types of users: beginners and pros
The most detailed picture of the future market was presented by Alexander Nam from MTS Fintech. He divided all Russian retail clients into two fundamentally different categories: beginners and experienced investors.
For novice users, simplicity, trust, and security are critically important. Banking services will become the ideal gateway for them into the world of digital currencies. They won't have to figure out crypto wallets and seed phrases on their own — banks have a colossal advantage here due to their broad audience, recognizable brand, and familiar interface. In this segment, they are virtually unbeatable.
On the other hand, experienced traders prefer to work directly with exchanges and DeFi protocols. For them, key factors remain favorable exchange rates, high liquidity, and minimal fees. For this reason, banks are unlikely to successfully compete for such clients, especially if access to international platforms is available.
The gray market of exchangers: it will survive, but shrink
Experts agree on one thing: banks will be able to significantly reduce the share of the shadow sector, but not eliminate it entirely. Yaroslav Kabakov is confident that the positions of illegal players will noticeably weaken in the mass segment, provided that convenient and profitable banking products emerge. Alexander Nam adds that the professional audience will continue to choose anonymity and access to global liquidity pools, which banks cannot provide.
Fedor Ivanov also reminds of the legal consequences of the reform. After the law comes into effect, the activities of unlicensed points will become criminally and administratively punishable. The document provides for the issuance of special licenses, which will allow large exchangers to legalize, although they will have to compete with banks.
Cryptalist Analysis: A Look into the Future
The market is on the verge of long-awaited institutionalization. Banks, with their huge client base and trust, will undoubtedly "eat up" a significant portion of retail demand for simple buy-and-sell operations. However, from my point of view, the key question will remain the depth of integration. If banks offer only a "walled garden" with a limited set of assets and high spreads, then professional traders and sophisticated users will stay on global CEXs and DeFi protocols. Real competition will only begin when banks can offer not just convenience, but a competitive price and access to a wide range of instruments. Until then, the gray market, though shrunken, will continue to exist, serving those who need maximum functionality and anonymity.