VTB wants to engage in cryptocurrency operations
Russia's VTB Group plans to offer clients operations with cryptocurrency instruments within a regulated and secure Russian framework. Dmitry Pyanov, the bank's first deputy chairman, stated, "We have ambitions for a significant share of this market, which will begin to function fully in 2027." The service will be developed both through the "VTB My Investments" platform and by building "the most resource-intensive and complex component of this new ecosystem—a digital depositary." Relevant legislation comes into force on September 1, with other regulations expected by year-end. Pyanov estimates the market's potential at several tens of billions of rubles. He believes the first player to offer a high-quality customer experience can claim a significant portion of the commission income.
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