Alfa Bank, Russia's largest private bank, is reportedly planning to launch its own digital depository to offer crypto-related services to its clients.
Alfa Bank Chief Operating Officer Dmitry Vitman said that the bank plans to first establish a retail-focused brokerage, potentially by the end of this year or early 2027, according to local news outlet RBC. Vitman added that he expects the Russian crypto market to gain liquidity no earlier than the end of 2027.
The bank's crypto plans largely hinge on the upcoming crypto asset regulation in Russia. Alfa intends to create its own digital depository — a regulated entity responsible for the custody, accounting, and transfer of digital assets — once the new law on digital currency and digital rights takes effect.
According to Vitman, the depository will serve as the foundation for a broader range of services, including crypto custody, trade facilitation, and investment products on open blockchains aimed at attracting foreign investors.
Upcoming crypto bill
