VTB has obtained the status of a CFA platform operator: a new stage in the institutionalization of digital assets in Russia
On June 25, 2026, the Bank of Russia decided to include VTB Bank (PJSC) in the register of operators of information systems where digital financial assets (DFAs) are issued. At the same time, the regulator approved the rules of the bank's information system.
This decision marks a qualitative shift for Russia's second-largest bank. Previously, VTB placed its DFA issues through the "VTB Capital Trading" platform, which was included in the register of operators in December 2024. Now, the bank gains the ability to use its own technical capabilities, transitioning from the status of a client of an external platform to that of a full-fledged operator. This is not just a formality—it is a strategic step that allows VTB to control the entire chain of issuance and circulation of digital assets, reducing operational risks and increasing flexibility.
Who is already in the register
After VTB's inclusion, the register of information system operators will have 24 participants. As of the regulator's latest data upload (June 24), it listed 23 operators, including "VTB Capital Trading." Thus, we are witnessing a systematic expansion of the DFA market infrastructure, where key players—systemically important banks—are gradually occupying their niches.
From my perspective, VTB's inclusion in the register is further confirmation that the digital financial assets market in Russia is moving from the stage of pilot projects to a phase of mature institutional development. When giants like VTB acquire their own platforms, it sets a precedent for the accelerated integration of DFAs into traditional banking products. In the next 12–18 months, we will likely see an explosive growth in the number of issuances and volumes, especially in the segment of hybrid instruments that combine the properties of classic bonds and digital rights.