Alfa-Bank tests crypto trading for 7 tokens as Russia eyes Q4 2026 launch

Alfa-Bank, Russia's largest private bank, began testing cryptocurrency trading for qualified investors through its Alfa-Investments brokerage app on July 8, 2026.

"We plan to roll out a suite of crypto services once the relevant digital asset legislation takes effect," Dmitry Vitman, chief operating officer of Alfa-Bank's corporate and investment banking division, said.

The test version includes seven cryptocurrencies: Bitcoin, Ether, Solana, Litecoin, Tether USDt, USD Coin and Zcash. Broader retail access could follow after Russia adopts its regulatory framework, with a potential launch in the fourth quarter of 2026.

The bank also plans to establish a "digital depository" — a crypto custodian service — not only for its own offerings but for other companies. The term is central to Russia's proposed crypto legislation, which introduces digital custodians as a new regulated category.

The bill "On Digital Currency and Digital Rights," which passed its first reading in the State Duma in April 2026, is designed to establish rules for crypto operations under Bank of Russia oversight. Anatoly Aksakov, chairman of the State Duma's Financial Market Committee, said Wednesday that a package of cryptocurrency bills was ready for its second reading after the committee approved amendments.

Russia's largest banks are preparing for a regulated crypto market. Sber, VTB and T-Bank have also outlined crypto plans amid progress on the country's digital asset legislation. Separately, the first reading of a bill to criminalize unlicensed crypto exchanges was passed by Russia's parliament, with violators facing fines, forced labor or up to five years imprisonment.

The global crypto market capitalization stood at $2.21 trillion on July 9, down 2.1% in 24 hours, according to CoinGecko. Bitcoin traded at $62,374.65, down 1.67%, while Ether changed hands at $1,746, down 1.61%. The Fear & Greed Index remained at 22, indicating Extreme Fear.

If the regulatory framework passes, Russia could open a large new market for crypto trading and custody services, potentially increasing demand for major cryptocurrencies. Alfa-Bank's entry as the country's largest private bank lends institutional legitimacy to digital assets in a jurisdiction that has long maintained an ambiguous stance on crypto.

This article is for informational purposes only and does not constitute investment advice.