Russia's Largest Private Bank Alfa-Bank Plans to Offer Cryptocurrency-Related Services

Odaily reports that Russia's largest private bank, Alfa-Bank, has announced plans to become a digital custodian and offer cryptocurrency-related services to its own clients and other legal entities. Dmitry Vitman, Chief Operating Officer of Alfa-Bank, stated that the bank aims to create investment tools based on open blockchains to attract foreign investors and develop proprietary products and instruments capable of competing in the international market. He estimates that once the government's cryptocurrency regulatory bill takes effect, retail brokerage services involving both Russian and foreign infrastructure may emerge in Russia between late 2026 and early 2027, but significant liquidity is not expected before late 2027. Digital custodians are regulated entities responsible under Russian law for monitoring all client crypto transactions and freezing transfers to addresses not approved by the state.