Crypto news

Russian retail stands on the brink of a historic shift: the ability to buy digital currencies and digital financial assets (DFAs) directly through mobile banking apps is becoming increasingly real. However, as recent discussions in the professional community show, the path to this will not be as simple as it seems at first glance.

The key question now is not whether such functionality will exist, but in what form it will appear and whether it can displace the gray market of exchangers. The opinions of leading analysts are divided, but they all agree on the main point: after the adoption of the relevant cryptocurrency bill, which is forecast to be finally approved as early as the end of July, banks will begin actively implementing digital assets.

What will the retail investor get?

The most conservative scenario suggests that the first to appear in banking apps will not be classic cryptocurrencies, but DFAs (digital financial assets). This path seems more likely due to strict regulatory requirements and the need to comply with compliance. The direct purchase of Bitcoin or Ether remains in question for now.

However, there are also more optimistic forecasts. The Bank of Russia's initiative aimed at legalizing retail access to digital currencies is already being discussed in the State Duma. If the law is passed in the second reading, as expected, by the end of July, it will give a powerful boost to the entire market.

Two types of users: who needs banks, and who doesn't?

The key insight I have drawn from analyzing the current situation is a clear segmentation of the audience. Russian retail clients can be divided into two fundamentally different categories.

The first is beginners. For them, simplicity, security, and trust are critically important. They don't need to understand seed phrases and crypto wallets. A banking app with a familiar interface and brand will become an ideal guide for them into the world of digital assets. In this segment, banks have a huge advantage over any exchangers.

The second is experienced traders. This group values anonymity, minimal fees, and access to global liquidity pools. For them, working through a bank with its KYC procedures and, most likely, higher spreads is not an option. They will remain on exchanges and DeFi protocols. Banks are unlikely to be able to compete with them in this niche.

Who will launch the service first?

All market participants start with equal opportunities, but large banks with developed brokerage infrastructure will be able to scale significantly faster. Their main obstacle is the lack of deep expertise in blockchain technologies. This is a temporary problem, but it will slow down the launch.

Almost all major financial organizations have already announced plans to implement crypto services. As soon as transparent rules of the game appear, regional banks will also join the trend. For them, this is an excellent opportunity to offer a new product and generate additional income. At the moment, the development of the sector is held back solely by regulatory risks.

The fate of the gray market of exchangers

Expert opinions on this issue are almost unanimous: banks will be able to significantly reduce the share of the shadow sector, but they will not be able to completely eliminate it. In the mass segment, illegal exchangers will lose their positions, as banking products will be more convenient and safer. However, the professional audience will continue to choose anonymity and access to global liquidity.

Furthermore, after the law comes into effect, the activities of unlicensed exchange 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.

My conclusion: we are witnessing the beginning of a fundamental transformation of the Russian crypto market. The integration of digital assets into banking apps is not a question of "if," but a question of "when." The main battle will be for beginners, and here banks are clear favorites. However, the complete displacement of the gray market is unlikely. Professionals will always find ways to bypass restrictions. The market is not just expecting the emergence of a new channel, but a deep structural reorganization that will change the rules of the game for all participants.