The financial group "Finam" has officially confirmed its ambitions to become one of the key players in Russia's emerging cryptocurrency market. The company has settled on two primary roles — broker and crypto exchanger. This decision was announced by the group's president, Vladislav Kochetkov, ahead of the Eastern Economic Forum.
The market entry strategy is divided into two stages: some decisions have already been finalized, while others are still in the development phase. The roles of broker and exchanger, as emphasized by the head of Finam, have been definitively determined. This is a logical step for a company with years of experience in traditional financial markets that sees potential in regulated crypto trading.
Depository postponed: too expensive and unpredictable
However, Finam has for now decided against creating its own digital depository. The reason is purely economic. According to estimates, such a project would require at least 3 billion rubles in investment, and the payback period could stretch to eight years. Vladislav Kochetkov noted that such a capital-intensive and long-term project requires high confidence in the volumes of the future market. At the start of regulation in Russia, such confidence objectively does not exist, so the launch of the depository has been postponed until the demand picture becomes clearer.
Speculative but liquid: a new reality
According to the head of Finam, the Russian crypto market will be predominantly speculative in nature. Purchasing digital assets for settlements or storage on personal non-custodial wallets is a less typical goal for domestic participants. Kochetkov emphasizes that Russia is going its own way, deliberately deviating from the classical ideology of cryptocurrencies as a tool for the free movement of assets without intermediaries.
At the same time, the regulated market will be full-fledged, liquid, and functional. It will be built on a rigid architecture that is atypical for cryptocurrencies. In the expert's view, it is precisely this that will ensure transparency, investor protection, and predictability of rules — three key qualities necessary for participant trust. The speculative nature means that most transactions will be aimed at earning from exchange rate fluctuations rather than using cryptocurrencies in everyday payments.
My view: Finam's decision to enter the market specifically as a broker and exchanger is a pragmatic and timely step. Major players understand that under strict regulation and a lack of clarity regarding depository infrastructure, the most viable model is providing liquidity and trading services. A speculative bias is inevitable at an early stage, but it is precisely this that will create the foundation for future growth and attracting institutional money into the Russian crypto sector.