Alfa-Bank Tests Crypto Trading in App as Russia Moves on Rules

Russia's largest private bank, Alfa-Bank, has started testing crypto trading inside the Alfa-Investments brokerage app, according to an RBC Investments report. The test covers a small group of qualified investors. Wider access depends on rules expected later in 2026.

The bank wants to become a regulated digital depository and serve its own clients as well as other legal entities. Dmitry Vitman, chief operating officer at Alfa-Bank's corporate and investment business, said the bank must first build its own custody base. "Alfa-Bank plans to offer various services related to digital assets. First and foremost, we need to create our own digital depository," Vitman said, per Bits.media.

Under the expected framework, a digital depository would record and store crypto, monitor client transactions and block transfers to addresses not allowed by authorities. The bank also wants to create investment products on public blockchains to attract foreign investors.

The app showed trading pages for Tether, ZCash, Bitcoin, Ethereum, USD Coin, Solana and Litecoin. Alfa-Bank plans to complete its digital depository and crypto-to-ruble exchange gateways in 2026. A full retail launch may come closer to the fourth quarter of 2026, if the regulatory schedule allows it. Vitman also said broad liquidity in Russia's crypto market may not appear before late 2027.

Timing depends on Russia's crypto legislation. A State Duma committee approved a revised bill for a second reading after dropping a rule that would have forced users to disclose wallet addresses. Users would still report balances and transaction volumes. The revised bill keeps an annual cap of 300,000 rubles for non-qualified investors. It also allows crypto to be used to buy Russian securities and digital financial assets. Some large transfers abroad or to third parties could face a two-day freeze under the draft rules. The bill still needs to pass the remaining steps before it can guide bank services.

Alfa-Bank is not alone. Sberbank plans to launch a crypto wallet and digital asset depository after the new law takes effect. The bank expects to bring the wallet to Sberbank Online and SberInvestments, while its custody infrastructure is planned for Dec. 1. Sberbank is also weighing access to foreign crypto exchanges, depending on the final rules and licensing terms.

T-Bank also plans to offer crypto buying, selling, storage and balance tracking in its mobile apps. The bank wants a digital depository license and has linked its plan to the Atomyze digital asset platform. VTB has discussed similar plans, according to reports cited by crypto.news.

The parallel preparations show major Russian banks are positioning for regulated crypto services. Launch dates still depend on final rules, licenses, app access and market demand. The cap on non-qualified investors limits immediate retail flow. For qualified investors, the test opens a channel for direct crypto exposure through a regulated bank. The bill's third reading and subsequent publication will set the timetable for broader rollouts, Vitman noted.