Alfa-Bank to Offer Crypto Services and Become Licensed Digital Depository

Russia's largest private bank, Alfa-Bank, is planning to offer cryptocurrency services and become a licensed digital depository once new regulations take effect on July 1, 2026.

The bank has already made strides in this area with its A-Token platform, which was launched in February 2023. This platform supports tokenized instruments called digital financial assets (DFAs), which exist under Russia's existing legal framework and account for roughly 45% of the total DFA transaction volume in Russia during 2023.

With the upcoming regulatory changes, Alfa-Bank aims to become a licensed intermediary and digital depository. The bank has also explored more innovative tokenization projects, including hybrid gold-linked DFAs and tokenizations for subsidiaries of Rosatom, Russia's state nuclear energy corporation.

Russia's new crypto rules will introduce licensed intermediaries for crypto activities, establish rules for crypto exchanges, and create the legal foundation for digital depositories. Alfa-Bank is not alone in this endeavor, as Sberbank, the country's largest state-owned bank, is also developing plans for crypto wallets and its own digital depository, with a launch target of December 2026.