Alpha Bank plans to become a digital custodian and offer cryptocurrency-related services

According to Bits.media, Russia's largest private bank, Alfa-Bank, plans to become a digital custodian and provide cryptocurrency-related services to customers and other legal entities. Dmitry Vitman, Alfa-Bank's Chief Operating Officer, stated that the bank intends to create investment instruments based on open blockchains to attract foreign investors and to develop its own products and tools. Dmitry Vitman expects that large-scale cryptocurrency liquidity in Russia will not emerge before the end of 2027. Digital custodians are responsible for monitoring clients' crypto transactions and freezing transfers to addresses not approved by the state.