VTB launches its own platform for digital financial assets (DFAs): a new stage in the development of the digital asset market in Russia
June 25, 2026 is a landmark date for the Russian digital financial assets (DFA) market. The Bank of Russia officially included VTB Bank (PJSC) in the register of operators of information systems within which DFA issuance is carried out. Simultaneously, the regulator approved the operating rules for the bank's own information system.
This decision fundamentally changes the positioning of Russia's second-largest bank in the digital assets market. Previously, VTB placed its DFA issues through a subsidiary structure — the VTB Capital Trading platform, which was included in the operator register back in December 2024. Now, the bank gains the ability to use its own technological capabilities, transitioning from the status of a third-party operator's client to the role of a full-fledged infrastructure owner.
Roadmap: From Broker to Operator
The regulator's decision, published in the insider information section, indicates the maturity of the bank's internal processes and its readiness for independent DFA issuance and circulation. Creating its own platform is not just a technical step but a strategic maneuver, allowing VTB to control the entire value chain of digital assets, from issuance to settlements. For the market, this is a signal that the largest players see DFAs not as an experimental tool but as a full-fledged business line.
New Composition of Register Participants
With VTB's inclusion in the register of information system operators, the total number of participants will reach 24. As of June 24, 2026, the register listed 23 operators, including VTB Capital Trading. Thus, the bank formally holds two positions in the register, underscoring its dominant role in the development of the DFA market in Russia.
This step also intensifies competition among platform operators, which, in turn, should lead to improved service quality and reduced fees for issuers. VTB, with its vast client base and the trust of institutional investors, could become a catalyst for the mass adoption of DFAs in the corporate sector.
My analysis: VTB's inclusion in the operator register is not just a bureaucratic procedure but a clear signal to the market: the era of "gray" schemes and experiments with DFAs is ending. We are entering a phase of institutionalization, where regulated giants like VTB will set the standards. For investors, this means increased liquidity and reliability of instruments, and for issuers, simplified access to capital through digital assets. The DFA market in Russia has reached a new level of maturity.