Russia's Largest Private Bank Tests Crypto Trading
BITmarkets Team
Jul 23, 2026
The move comes as several of Russia’s biggest financial institutions, including Sber, VTB and T-Bank, outline their own digital asset strategies in anticipation of new regulation.
Crypto trading test begins for qualified investors
Alfa-Bank has also reportedly begun testing cryptocurrency trading through its Alfa-Investments brokerage application with a limited number of qualified investors. The pilot includes several major digital assets, such as Bitcoin, Ether, Solana, Litecoin, USDT, USDC and Zcash.
The bank said access could later be expanded to retail clients once Russia adopts the required regulatory framework. A broader launch may take place in the fourth quarter of 2026.
Digital custody forms a key part of the plan
As part of its strategy, Alfa-Bank intends to first create its own “digital depository,” a service designed to store and manage cryptocurrency assets in a role similar to that of a digital asset custodian. Vitman said the service would support Alfa-Bank’s own crypto products while also being made available to other companies. The concept of a “digital depository” is central to Russia’s proposed crypto framework, which would establish digital custodians as a new category of regulated market participant.
One related bill, “On Digital Currency and Digital Rights,” passed its first reading in the State Duma in April 2026. The legislation is intended to create rules for cryptocurrency activity under the supervision of the Bank of Russia. Anatoly Aksakov, chair of the State Duma’s Financial Market Committee, said on Wednesday that a package of crypto-related bills was ready for its second reading after the committee approved a set of amendments.
Sources:
https://cointelegraph.com/news/russia-largest-private-bank-alfa-bank-crypto-services
https://www.rbc.ru/quote/08/07/2026/6a4cad8a9a79472d9bd21c4a
