Alfa-Bank to Offer Regulated Crypto Custody Pending New Law

Russia's largest private bank, Alfa-Bank, is preparing to launch regulated cryptocurrency services for retail and corporate clients, positioning itself for a new legal framework expected to reshape the country's digital asset landscape later this year. The bank's plans, detailed by Chief Operating Officer Dmitry Vitman, center on creating a licensed digital depository for custody and storage of crypto assets.

The rollout of these services is contingent on the finalization and implementation of new digital asset legislation, which has reportedly received final approval from the State Duma. The law is expected to establish a formal structure for licensed intermediaries, including exchanges, brokers, and custodians. Under this model, access to digital currencies would flow through approved financial institutions rather than unregulated offshore platforms. Alfa-Bank will require regulatory approval before offering full custody or brokerage services.

Vitman stated that the bank's first priority is to build its own digital depository, which would also be offered to other companies. This infrastructure would serve as the foundation for storing client assets under a regulated structure....