Russia’s Alfa-Bank Plans Regulated Crypto Custody Services

• Alfa-Bank plans a regulated crypto depository and blockchain-based investment products. 
• Alfa-Bank has begun testing crypto trading for qualified investors through Alfa-Investments. 
• Russia’s new crypto bill will determine whether Alfa-Bank launches retail services.

Alfa-Bank is preparing to expand into cryptocurrency services as Russia moves to implement a new legal system for digital assets. The country’s largest private bank said its plans include creating a regulated digital depository, offering crypto-related services to clients, and developing investment products built on public blockchains.

While the initiative acts as another move in Russia’s digital asset market, the bank said its rollout remains tied to the implementation of the country’s cryptocurrency legislation, with executives stating that key services are expected to become available only after th…

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