The Moscow Exchange (MOEX) plans to roll out cash-settled futures contracts tied to solana SOL$103.02, XRP, and TRX$0.2831, adding to its existing BTC and ETH products.

The exchange will first introduce indices for the three altcoins before rolling out futures contracts settled in rubles. Maria Silkina, senior manager of the Derivatives Market Group at MOEX, said on Russia’s RBC radio that the exchange will first introduce indices for the three altcoins, which will serve as the foundation for rolling out futures contracts.

Under current Russian regulations, derivatives must be tied to an underlying asset, and in this case, that asset will be the published index for each token.

MOEX already calculates indices for bitcoin and ether, and offers monthly cash-settled futures tied to those benchmarks. The new products will follow the same model, featuring no physical delivery of crypto, settlement in rubles, and only accessible to qualified investors.

The exchange is also eyeing perpetual futures for bitcoin and ether, allowing investors to enter futures positions with no expiry. These perpetual futures contracts are already popular in the cryptocurrency space and are offered by most major global exchanges.

Russia has been working on crypto regulations over the last few months. Last month, lawmakers in the country unveiled plans to cap retail crypto buys at $4,000, and earlier, the central bank outlined a new framework for crypto investors.

Still, the country’s ongoing conflict with Ukraine has been weighing on the sector, given the sanctions imposed on the country. BitRiver, Russia’s largest crypto miner, was sanctioned by the United States in 2022 over the invasion, and is now facing potential bankruptcy. Russia has also labeled a crypto exchange, WhiteBIT, as “undesirable” over its support for Ukraine.