Grinex

What Grinex does

Grinex is a private cryptocurrency exchange licensed under CIS legislation, founded in 2022 and operating primarily from the Russian market. Its platform enables virtual-asset trading with ruble settlements, serving both individual Russian-speaking crypto traders and Russian businesses that require digital-asset-based cross-border settlements. The exchange positions itself as compliant domestic infrastructure for an industry constrained by international sanctions and the blocking of foreign platforms such as Garantex.

In 2025 Grinex obtained access to the client base and trading infrastructure of Garantex after it was blocked by foreign authorities, materially expanding its user base. That same year, Grinex collaborated with Tether to facilitate the return of over 2.5 billion rubles in previously-frozen user cryptocurrency, demonstrating operational reach into major stablecoin issuers. Distribution is concentrated on a web platform (grinex.io) supplemented by an extensive Telegram channel ecosystem — including official, support, and announcement bots — alongside departmental email addresses for press, legal, AML/KYC, support, and regional operations. Grinex has stated that withdrawal capability for the A7A5 ruble stablecoin will be the first step in its recovery roadmap.

In mid-April 2026, Grinex suffered a large-scale, technically sophisticated cyberattack that resulted in the theft of over 1 billion rubles in client assets, with stolen funds consolidated to a public attacker wallet. The exchange suspended operations, filed a criminal case with the Russian Ministry of Internal Affairs, engaged blockchain forensics and information security experts, and announced a strategic commitment to compensate affected users. The platform is currently in infrastructure recovery mode, and the company has been added to international sanctions lists alongside targeted blocking of its cryptocurrency wallets, reflecting the broader geopolitical pressure on Russia's emerging crypto sector.

Name

Grinex

Legal name

Grinex

Website

https://grinex.io

Company type

Private

Founded year

2022

Operating status

Operating

Short description

Grinex is a private CIS-licensed cryptocurrency exchange founded in 2022 that enables ruble-settled virtual-asset trading for Russian-speaking users and Russian businesses, having absorbed Garantex's client base in 2025 and currently rebuilding after a major April 2026 cyberattack.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange

NAICS

Securities and Commodity Exchanges (5232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

akta.pro secondary industry

Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)

Keywords

• Cryptocurrency exchange
• Crypto-ruble trading
• Virtual asset platform
• Digital asset settlements
• Ruble stablecoin services

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Others

Distribution channels2 records

Marketing channels6 records

Core offering

Grinex is a cryptocurrency exchange platform licensed under CIS legislation that enables trading of virtual assets with ruble settlements. It facilitates settlements between Russian businesses and citizens using digital assets and provides infrastructure for cryptocurrency trading, business operations, and investments. The platform serves Russian-speaking users including individual investors and businesses requiring cryptocurrency-based settlements amid international sanctions, and was the first Russian crypto exchange to offer ruble stablecoin (A7A5) withdrawal capability.

Product overview

Grinex is a crypto-ruble cryptocurrency exchange platform that facilitates settlements between Russian businesses and citizens using digital assets. It is a trading platform with virtual assets oriented toward business operations and investments for Russian-speaking users. The platform enables cryptocurrency trading with ruble-denominated transactions and is licensed under CIS legislation. In 2025, Grinex acquired the client base and infrastructure of the blocked foreign cryptocurrency exchange Garantex and participated in returning over 2.5 billion rubles worth of cryptocurrency to users that had previously been blocked by USDT issuer Tether.

Differentiator

Problem solved

Functional benefit

Products and services

• Grinex Crypto-Ruble Exchange Platform Licensed cryptocurrency exchange platform that facilitates trading of virtual assets with ruble settlements, enabling settlements between Russian businesses and citizens in digital assets. Targets Russian-speaking users including individual investors and businesses needing alternative financial infrastructure amid international sanctions.
• A7A5 Ruble Stablecoin Withdrawal Ruble-pegged stablecoin (A7A5) withdrawal service that allows users to transact in a ruble-denominated digital asset, supporting settlements between Russian businesses and citizens. First offered by a Russian crypto exchange, providing a domestic alternative to USD-pegged stablecoins.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and major.

• GarantexcoreStrategic or Co-development Partner · 1 January 2025In 2025, Grinex gained access to the client base and infrastructure of Garantex after it was blocked by foreign special services. This partnership expanded Grinex's customer base significantly and provided additional trading infrastructure.
• TethermajorStrategic or Co-development PartnerGrinex worked with Tether (USDT issuer) to facilitate the return of over 2.5 billion rubles in frozen cryptocurrency to affected users. This partnership demonstrated Grinex's capability to resolve asset recovery issues with major stablecoin issuers.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Garantex: Russian- and CIS-focused crypto exchange that was sanctioned and blocked by foreign authorities in 2025; Grinex directly absorbed Garantex's client base and infrastructure, making it the closest functional predecessor.
• EXMO: Crypto exchange with roots in Russia/CIS offering ruble and CIS fiat pairs; a comparable regional venue competing for Russian-speaking traders and SMB settlement flows.
• BTC-Alpha: Russian/CIS crypto exchange serving Russian-speaking traders with ruble rails and similar compliance posture; directly competes for the same sanctions-aware retail and SMB segment as Grinex.

Broad incumbents

• Binance: Global crypto exchange with prior Russian operations; sets the global benchmark for crypto exchange UX and listing standards that Grinex-like regional venues benchmark against.
• Bybit: Large global crypto derivatives and spot exchange with deep liquidity; comparable as a trading venue competing for Russian/CIS-speaking users despite reduced Russian fiat rails.
• HTX (Huobi): Long-standing global crypto exchange serving Asian and emerging-market flows including CIS; comparable broad incumbent competing for cross-border crypto settlement use cases.
• OKX: Global crypto exchange offering spot, derivatives, and on-chain services; comparable as a venue competing for the same crypto-active user pool Grinex targets.

Emerging players

• Bitget: Global crypto derivatives and copy-trading exchange with growing emerging-market reach; relevant emerging venue that has expanded into CIS and ruble-adjacent corridors.
• Rapira: Russian-market crypto exchange focused on ruble pairs and local OTC liquidity; comparable in customer base and regulatory positioning to Grinex, though smaller in scale.

Others

• A7A5: Ruble-pegged stablecoin issuer whose tokens Grinex was first to support for withdrawal; an ecosystem partner rather than a direct competitor, but central to Grinex's settlement value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grinex