Russia's Alfa Bank plans digital depository for crypto services, pending regulation
Alfa Bank, Russia's largest private bank, plans to launch a digital depository to offer crypto services to clients, pending the country's upcoming crypto asset regulation. COO Dmitry Vitman stated the bank aims to first establish a retail-focused brokerage by late 2026 or early 2027, and expects the Russian crypto market to gain liquidity no earlier than end of 2027. This follows similar moves by other major Russian banks as the country develops its crypto legal framework.
Key quotes
Alfa Bank Chief Operating Officer Dmitry Vitman said that the bank plans to first establish a retail-focused brokerage, potentially by the end of this year or early 2027.
Vitman added that he expects the Russian crypto market to gain liquidity no earlier than the end of 2027.
The bank's crypto plans largely hinge on the upcoming crypto asset regulation in Russia.
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