TL;DR:
- Alfa-Bank, Russia’s largest private bank, has begun testing cryptocurrency trading with qualified investors through its Alfa-Investments app.
- The bank plans to launch crypto services in the fourth quarter of 2026, subject to approval of Russia’s digital regulatory framework.
- Sber, VTB and T-Bank are also preparing crypto asset services as the legislative package moves toward its second reading in the State Duma.
Alfa-Bank, Russia’s largest private bank, has begun testing a cryptocurrency trading service with a small group of qualified investors through its brokerage application Alfa-Investments, as reported by Russian outlet RBC. The test included assets such as Bitcoin, Ethereum, Solana, Litecoin, Tether USDt, USDC and Zcash.
Dmitry Vitman, head of operations for the bank’s corporate and investment banking division, said the bank plans to deploy a full suite of crypto services once the corresponding legislation on digital assets comes into force. The rollout of the same service for retail clients is expected in the fourth quarter of 2026.
Alfa-Bank’s Digital Depository: Crypto Infrastructure for Russia
As part of its strategy, Alfa-Bank announced it will first establish its own “digital depository”, a figure equivalent to a digital asset custodian. Vitman specified that the service will not only support the bank’s internal operations, but will also be available to other companies, positioning the institution as an infrastructure provider within the Russian crypto ecosystem.
The concept of a “digital depository” is central to Russia’s proposed crypto legislation, which introduces digital custodians as a new category of regulated institutions in the market. The bill “On Digital Currency and Digital Rights” passed its first reading in the State Duma in April 2026, and seeks to establish rules for cryptocurrency operations under the supervision of the Bank of Russia.
Anatoly Aksakov, chairman of the State Duma’s Financial Market Committee, confirmed that the crypto legislative package was ready for its second reading following the committee’s approval of the amendments. Alfa-Bank’s initiative aims to compete with other institutions: Sber, VTB and T-Bank have also outlined their own plans in response to the advancing regulatory framework.
