Russia’s largest private bank is moving forward with cryptocurrency services ahead of a new regulatory framework. Alfa-Bank is currently testing crypto trading through its Alfa-Investments brokerage app with qualified investors, according to reporting published July 9, 2026. The bank plans to establish a digital asset custodian service once Russia’s proposed digital asset legislation takes effect.
Dmitry Vitman, chief operating officer of Alfa-Bank’s corporate and investment banking division, said the bank is preparing for a broader rollout. “Alfa-Bank plans to roll out a suite of crypto services once the relevant digital asset legislation takes effect,” Vitman stated.
The test version includes Bitcoin, Ether, Solana, Litecoin, Tether USDt, USDC, and Zcash. Alfa-Bank did not disclose the size or composition of the qualified investor test group or when testing began.
Custodian Service Expansion
Alfa-Bank is designing its digital asset custodian to serve clients beyond the bank itself. “Alfa-Bank plans to create the custodian not only to support its own crypto services but also to provide the services to other companies,” Vitman said.
Russia’s proposed crypto legislation introduces digital custodians as a new category of regulated market participants under Bank of Russia oversight. The regulatory framework is advancing through the State Duma. In April 2026, the “On Digital Currency and Digital Rights” bill passed its first reading. On July 9, Anatoly Aksakov, chairman of the State Duma’s Financial Market Committee, announced that a crypto bills package was ready for second reading.
Broader Bank Participation
Alfa-Bank is not alone in preparing crypto services. Other major Russian banks, including Sber, VTB, and T-Bank, are also preparing crypto offerings as the legal framework develops.
Q4 2026 marks a possible target for broader retail access to crypto services, though no formal launch date has been confirmed.
