Alfa Bank Plans to Launch Digital Depository for Crypto Services by Late 2026

According to RBC, Alfa Bank, Russia's largest private bank, plans to launch its own digital depository to offer crypto-related services to clients. Chief Operating Officer Dmitry Vitman stated that the bank aims to establish a retail-focused brokerage by late 2026 or early 2027, with the depository expected to serve as the foundation for crypto custody, trading, and investment products once new digital asset regulations take effect.

The initiative depends on Russia's pending crypto asset legislation, which is now expected to come into full effect on or around September 1. The bill, which passed its first reading in April, aims to formalize the crypto market and bring trading and custody under Bank of Russia oversight.