Russia's Alfa-Bank Prepares Digital Custody Service Amid New Crypto Legislation

Russia's Alfa-Bank is planning to launch a digital custody service for cryptocurrencies once new crypto legislation takes effect in the country.

The bank expects retail brokerage-style crypto services to emerge gradually from late 2026 or early 2027, but meaningful liquidity in Russia's regulated crypto market may not appear until late 2027.

Dmitry Vitman, Chief Operating Officer of Alfa-Bank's corporate and investment banking division, stated that the bank intends to offer services related to digital currencies after the regulatory law is adopted. The first priority is a digital custodian, which Alfa-Bank also plans to offer to other companies.

The proposed law 'On Digital Currency and Digital Rights' is expected to create a formal path for licensed crypto activity in Russia, with crypto access running through approved intermediaries such as exchanges, brokers, custodians, and other regulated participants.