Moscow Exchange (MOEX) is preparing to launch a digital custody system for crypto assets, according to multiple brokerage industry sources and people close to the exchange platform.
The planned platform, described as a digital depository system, would not be built on MOEX’s existing trading architecture. It also would not be placed under Russia’s National Settlement Depository (NSD), instead operating as standalone infrastructure. Sources said the exact operating model is still being discussed, with the system currently expected to go live in late 2026 or early 2027.
Standalone structure under discussion
Based on the information disclosed so far, the custody system is being designed as a separate infrastructure layer rather than an extension of MOEX’s current platform or the NSD framework.
In Russia’s legal crypto market, the future structure could include multiple digital asset liquidity centers, including Moscow Exchange and platforms run by major financial institutions.
Anonymous accounts planned for brokerage clients
Under the plan, each brokerage client would have an anonymous account within the digital custody system. In essence, that account would be similar to an on-chain wallet address used to record an investor’s crypto assets.
Some market participants plan to conduct crypto asset trading only through their own custody systems. Others are considering a hybrid model that would split functions between trading on an exchange and digital custody handled by a bank or brokerage.
Major Russian banks have announced similar plans
Several large Russian banks had previously announced plans to build digital asset custody infrastructure, including Sber, VTB, T-Bank and Alfa-Bank.