Alfa-Bank Builds Crypto Depository, Pilots Trading for Qualified Investors

A consumer launch could come in the second half of 2026 or early 2027. Vitman added that meaningful liquidity likely won't appear until late 2027. The bank already runs A-Token, a platform for tokenized securities that has handled several offerings since 2023. Now it wants to add public blockchain instruments and regulated trading.

Two big competitors are moving in parallel. Sberbank plans to build its own digital depository and add cryptocurrency wallets to its Sberbank Online and SberInvestments apps once the law is active. T-Bank intends to introduce buy-and-sell functions for digital assets under a similar framework.

Russia's largest lenders are positioning for a market that will operate under formal oversight. The forthcoming regulation subjects crypto services to compliance rules. Alfa-Bank is building the foundation ahead of expected demand.

For traders watching the space, the pilot itself is narrow – qualified investors only, a handful of coins. The depository infrastructure is the real signal. Once custody and settlement are in place, the path to broader retail access shortens. The timeline depends on when lawmakers pass the final bill. Sberbank and T-Bank are waiting for the same trigger.

Until then, the pilot serves as a small test of the system. The volume is low, the access restricted. The next concrete marker is the legislative vote. If it passes, the window for mass-market crypto services in Russia opens – and the three banks have already staked their claims.