Bank

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2026

<ul>
 <li>Alfa Bank plans a retail crypto brokerage before launching a regulated digital depository under Russia’s proposed cryptocurrency legal framework soon.</li>
 <li>According to COO Dmitry Vitman, services could begin by late 2026 or early 2027 while market liquidity may trail longer.</li>
 <li>Russia’s pending legislation would license crypto businesses, place trading and custody under central bank oversight as major lenders prepare expansion.</li>
</ul>
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Alfa Bank is preparing to enter Russia’s regulated cryptocurrency market with plans to launch a retail crypto brokerage and a digital depository for digital assets. The country’s largest private bank intends to introduce the services as lawmakers move closer to approving a long-awaited cryptocurrency framework. 
<a href="https://www.rbc.ru/quote/08/07/2026/6a4cad8a9a79472d9bd21c4a?utm_referrer=https%3A%2F%2Fwww.theblock.co%2F" rel="noopener noreferrer nofollow">According to Alfa Bank Chief Operating Officer Dmitry Vitman</a>, the bank expects to launch its retail-focused brokerage by the end of 2026 or early 2027. However, he said the Russian crypto market is unlikely to achieve meaningful liquidity before the end of 2027. 
Vitman explained that Alfa Bank’s broader digital asset strategy depends on the adoption of Russia’s upcoming cryptocurrency legislation. Consequently, the bank plans to introduce each service in stages as regulators finalize the legal framework. 
The retail brokerage will become Alfa Bank’s first cryptocurrency offering. Subsequently, the bank plans to establish a regulated digital depository once the law on digital currency and digital rights officially takes effect. 
Also Read: <a href="https://36crypto.com/bitcoin-faces-major-test-as-623000-btc-cluster-turns-63000-into-key-resistance/" rel="noopener noreferrer nofollow">Bitcoin Faces Major Test as 623,000 BTC Cluster Turns $63,000 Into Key Resistance</a> 
<h2 id="crypto-brokerage-will-lead-alfa-bank-s-digital-asset-expansion">Crypto Brokerage Will Lead Alfa Bank’s Digital Asset Expansion</h2>
According to Vitman, the planned digital depository will provide the infrastructure needed for the bank’s long-term cryptocurrency business. The regulated entity will oversee the custody, accounting, and transfer of digital assets under Russian law. Additionally, the depository will support a broader range of crypto-related services. These offerings will include digital asset custody, trade facilitation, and investment products built on open blockchain networks. 
Vitman added that the investment products could attract foreign investors seeking regulated exposure to blockchain-based assets. Moreover, the digital depository will allow Alfa Bank to expand its cryptocurrency business as the domestic market develops. The strategy reflects a wider trend across Russia’s banking industry. Sber, VTB, and T-Bank have also announced plans to introduce digital depositories and cryptocurrency wallets ahead of the new regulatory framework. 
Meanwhile, Russia continues advancing legislation designed to <a href="https://36crypto.com/russia-signals-digital-ruble-rollout-as-banks-and-retailers-complete-preparations/" rel="noopener noreferrer nofollow">establish</a> formal oversight of the cryptocurrency market. The proposed bill passed its first reading in the State Duma during April. The legislation introduces licensing requirements for cryptocurrency businesses. It also places digital asset trading and custody activities under the supervision of the Bank of Russia. 
Lawmakers initially expected the legislation to take effect on July 1. However, parliament postponed the second and third readings to review additional revisions before the final vote. Earlier this week, the government’s Financial Market Committee approved the latest version of the bill. Consequently, lawmakers advanced the proposal to its second reading in the State Duma. 
Greater regulatory clarity could encourage more <a href="https://36crypto.com/russia-sanctions-17-year-old-researcher-over-110-billion-crypto-investigation/" rel="noopener noreferrer nofollow">traditional financial institutions</a> to expand into digital assets. Alfa Bank’s planned brokerage and digital depository demonstrate how major Russian lenders are preparing for a regulated cryptocurrency market while awaiting the law’s final approval. 
<h2 id="strong-conclusion-strong">Conclusion</h2>
Alfa Bank’s phased crypto strategy shows that major Russian banks are positioning themselves for a regulated digital asset industry. Once the legislation becomes law, the bank intends to expand from brokerage services into custody and broader blockchain investment products within Russia’s evolving financial framework. 
Also Read:&nbsp;<a href="https://36crypto.com/ascendex-halts-operations-as-mica-rules-and-liquidity-crisis-hit-exchange/" rel="noopener noreferrer nofollow">AscendEX Halts Operations as MiCA Rules and Liquidity Crisis Hit Exchange</a> 
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The post <a href="https://36crypto.com/alfa-bank-plans-crypto-brokerage-and-digital-depository-under-russias-new-crypto-law/" rel="noopener noreferrer nofollow">Alfa Bank Plans Crypto Brokerage and Digital Depository Under Russia’s New Crypto Law</a> appeared first on <a href="https://36crypto.com" rel="noopener noreferrer nofollow">36Crypto</a>.

Alfa Bank Plans Crypto Brokerage and Digital Depository Under Russia’s New Crypto Law

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