- Alfa-Bank plans a regulated crypto depository and blockchain-based investment products.
- Alfa-Bank has begun testing crypto trading for qualified investors through Alfa-Investments.
- Russia’s new crypto bill will determine whether Alfa-Bank launches retail services.
Alfa-Bank is preparing to expand into cryptocurrency services as Russia moves to implement a new legal system for digital assets. The country’s largest private bank said its plans include creating a regulated digital depository, offering crypto-related services to clients, and developing investment products built on public blockchains.
While the initiative acts as another move in Russia’s digital asset market, the bank said its rollout remains tied to the implementation of the country’s cryptocurrency legislation, with executives stating that key services are expected to become available only after the law takes effect.
Alfa-Bank Builds Infrastructure for Crypto Services
Dmitry Vitman, Chief Operating Officer of Alfa-Bank’s corporate and investment business, said the bank’s first priority is creating its own digital depository before expanding its digital asset offerings.
According to Vitman, the depository would operate under Russia’s regulatory system by storing clients’ cryptocurrency holdings, monitoring transactions, and preventing transfers to wallet addresses that are not authorized by the state. He added that Alfa-Bank also intends to develop investment instruments based on public blockchains to attract foreign investors.
Separately, RBC Investments reported that Alfa-Bank has already begun testing cryptocurrency trading through its Alfa-Investments brokerage application. The pilot is currently limited to a small group of qualified investors, while broader access depends on additional regulations expected from the Bank of Russia later in 2026.
The brokerage interface reportedly includes trading pages for Bitcoin, Ethereum, Tether, USD Coin, Solana, Litecoin, and ZCash. Alfa-Bank said it plans to complete its digital depository and crypto-to-ruble exchange infrastructure during 2026, with a wider retail rollout possibly taking place in the fourth quarter if the regulatory timeline remains on schedule.
New Crypto Law Determines Launch Timeline
The bank’s expansion plans remain dependent on Russia’s proposed cryptocurrency legislation, which recently advanced after a State Duma committee approved a revised version for its second reading.
The updated bill removed a previous requirement that cryptocurrency users disclose wallet addresses. However, users would still be required to report account balances and transaction volumes. The proposal also sets an annual investment limit of 300,000 rubles for non-qualified investors and permits the use of cryptocurrency when purchasing Russian securities and digital financial assets.
The draft legislation also includes provisions allowing certain large transfers abroad or to third parties to be delayed for up to two days under specific circumstances. The bill must still complete the remaining legislative process before banks can fully launch services under the new framework.
Related: Russia’s Sberbank Set December Target to Launch a Crypto Wallet
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