Alfa-Bank Plans to Become a Digital Custodian and Offer Crypto Services

Russia’s largest private bank, Alfa-Bank, said it plans to become a digital custodian and provide cryptocurrency-related services to its own clients and other legal entities. According to Odaily, Alfa-Bank Chief Operating Officer Dmitry Vitman said the bank wants to create investment tools on open blockchains to attract foreign investors and develop its own products and tools that can compete in international markets. Vitman said that after a government crypto regulation bill takes effect, Russia could see retail brokerage business involving Russian and foreign infrastructure from late 2026 to early 2027. He added that large-scale liquidity is not expected before late 2027. Under Russian law, a digital custodian is a regulated entity responsible for monitoring all client crypto transactions and freezing transfers to addresses not approved by the state.