Crypto news

The Russian digital asset market is on the verge of tectonic shifts. Major financial sector players and experts agree: the purchase of cryptocurrencies and digital financial assets (DFAs) will become available to retail clients directly through bank mobile apps, bypassing gray market exchangers. However, discussions continue about the exact form this will take, when it will launch, and whether the banking system can push out the shadow sector.

What will retail clients get?

The most conservative forecast was voiced by a strategist from Finam Investment Company. In their view, integration will happen, but primarily in the form of DFAs. Direct purchase of "classic" cryptocurrencies like Bitcoin remains in question due to strict regulation and compliance requirements. Other experts, including representatives of the operator "SHARD," insist that retail investors will definitely gain long-awaited access to digital assets, based on the current version of the bill from the State Duma website. The key driver here is the initiative of the Bank of Russia, which expects the document to be adopted in the second reading by the end of July.

Two types of users

The most detailed analysis was provided by an expert from MTS Fintech. They divided retail clients into two categories: beginners and experienced investors. For the former, simplicity, trust, and security are critically important — exactly the advantages that banks offer with their familiar interface and well-known brand. They won't have to figure out seed phrases and crypto wallets on their own. For this audience, banks will become the ideal gateway into the world of digital currencies.

On the other hand, experienced traders will prefer to work directly with exchanges and DeFi protocols. For them, key factors remain favorable exchange rates, high liquidity, and minimal fees. In this niche, banks are unlikely to compete with global platforms, especially given access to international liquidity pools.

• Beginners need security, a convenient bank interface, and no complex cryptographic keys.
• Professionals value anonymity, minimal costs, and access to global liquidity pools.

Who is closest to launch?

All market participants are starting from equal conditions. However, large banks with developed brokerage infrastructure will be able to scale their business much faster. The main obstacle for them so far is the lack of deep expertise in blockchain technology. Notably, almost all of the country's largest financial organizations have already announced plans to implement crypto services. As soon as transparent rules of the game emerge, regional banks will also join the trend, for whom this will be an excellent opportunity to generate additional income. Currently, the sector's development is solely constrained by regulatory risks.

The gray market of exchangers

Experts agree: banks will be able to significantly reduce the shadow sector's share, but not eliminate it entirely. The position 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. Additionally, after the law comes into effect, the activities of unlicensed exchangers 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.

Conclusions

Retail access to digital assets through banks will become a reality immediately after the bill is adopted. Significant progress is expected as early as the end of July. Banks will easily replace exchangers for beginners but will lose the battle for professionals. The gray market will be pushed back, but not completely destroyed.

Expert opinion: Integrating cryptocurrencies into banking apps is an inevitable and positive step for market legalization. However, banks will need to invest heavily in technological expertise to avoid becoming just a "showcase" for DFAs and instead offer competitive products for all categories of investors. The key question is whether they can provide sufficient liquidity and transaction speed to keep even novice users from switching to specialized exchanges.