Alfa Bank says it plans to introduce regulated crypto custody and investment services for both retail and corporate clients, with the rollout tied to Russia’s pending legal framework and a broader target running into 2027. The bank’s immediate priority is building its own secure digital custody infrastructure, which it describes as the foundation for every crypto-related product it wants to launch.
Custody infrastructure comes before product expansion
Dmitry Vitman said Alfa Bank intends to offer a range of digital asset services, but the first step is a robust custody system. The bank also wants to create investment products based on public blockchains and eventually make them suitable for international investors. In Alfa Bank’s plan, internal custody architecture is not a side feature. It is the core operating layer for the rest of the business.
Under Russia’s proposed regulatory model, digital custody providers would have to record all client transactions and block transfers to wallet addresses not approved by the state. That sets a high bar for compliance and transaction monitoring. Alfa Bank may be in a better position than smaller competitors to manage those requirements at scale. Founded in 1990, the lender is widely seen as one of Russia’s largest and most influential private financial institutions, with a broad existing customer base.
Retail brokerage is expected by late 2026 or early 2027
The timing depends on legislation. According to Vitman, Russia’s State Duma has already finalized the draft law on crypto assets, while implementation details are expected to become clear only after the law takes effect. For customer-facing services, the current expectation is that retail brokerage could go live in late 2026 or early 2027. The sequence is straightforward: law first, operating rules next, products after that.
Alfa Bank is also looking beyond individual users. Its crypto strategy includes corporate clients, pointing to a broader digital asset offering rather than a custody-only model. That places the bank in the developing institutional segment as well, where regulated access is likely to matter as much as product breadth.
Russian banks are moving into the sector at the same time
Alfa Bank is not alone. Sberbank is reportedly preparing to activate its digital custody infrastructure and add a crypto wallet to its banking app by December 1. T Bank has also disclosed similar ambitions, though no launch date has been announced. The overlap in these plans shows that large Russian banks are now competing to secure a position in compliant digital asset services for both retail and institutional users.
Even so, Alfa Bank does not expect a rapid jump in market liquidity. Vitman said meaningful liquidity growth is more likely toward late 2027 than in the near term. That suggests infrastructure and legal approval may arrive before trading depth and broader market activity fully catch up.