Russia's Alfa-Bank Plans Crypto Custody License and Blockchain Investment Services

According to Wu Blockchain, Russia's largest private bank Alfa-Bank plans to expand into cryptocurrency services, including obtaining a digital asset custody license and launching blockchain-based investment products for both retail and corporate clients.

The move marks a step toward normalization of digital assets in Russia's banking sector under the country's evolving regulatory framework. Alfa-Bank has prior experience with blockchain platforms, having launched the A-Token digital financial asset platform in 2023. The bank aims to bridge clients and public blockchain assets through regulated custody services, reducing direct wallet-management risks while keeping activity within supervised financial infrastructure.