Alfa-Bank tests crypto before Russia's new rules
- Alfa-Bank is testing crypto trading and plans to launch custody and digital asset services once Russia's new regulations take effect.
- The bank expects a broader rollout in 2026, while full retail access depends on the final regulatory framework.
- Major Russian banks including Sberbank and T-Bank are also preparing regulated crypto products as new legislation advances.
Alfa-Bank has begun testing cryptocurrency trading and plans to launch regulated custody and digital asset services after Russia finalises its new crypto framework, positioning the lender alongside other major banks entering the market.
The bank is testing crypto trading with a small group of qualified investors through its Alfa-Investments app, while broader access is expected in 2026 after the Bank of Russia publishes the required regulations.
"Alfa-Bank plans to offer various services related to digital assets. First and foremost, we need to create our own digital depository," said Alfa-Bank Corporate and Investment Business Chief Operating Officer Dmitry Vitman.
The bank said it plans to complete its digital depository and crypto-to-ruble exchange gateways in 2026, with a full retail launch targeted for the fourth quarter of 2026 if regulations permit, while Vitman said broad market liquidity may not emerge before late 2027.
The Alfa-Investments app has reportedly displayed trading pages for Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), Tether (CRYPTO:USDT), USD Coin (CRYPTO:USDC), Solana (CRYPTO:SOL), Litecoin (CRYPTO:LTC) and Zcash (CRYPTO:ZEC), while no listed company share price reaction applies to the announcement.
The rollout depends on Russia's proposed cryptocurrency legislation, which would retain a 300,000-ruble annual investment limit for non-qualified investors while allowing digital assets to be used to purchase Russian securities and digital financial assets.
Alfa-Bank joins Sberbank and T-Bank, which have also announced plans to offer regulated crypto wallets, custody and trading services, highlighting growing competition among Russian banks ahead of the country's new digital asset rules.
At the time of reporting, Bitcoin price was $62,333.64.
