VTB has obtained the status of a CFA operator: Russia's second-largest bank launches its own platform
Russia's digital market has gained another significant player. VTB Bank, the country's second-largest bank by assets after Sberbank, has officially entered the register of operators of information systems intended for issuing digital financial assets (DFAs). The decision to include it was made on June 25, 2026, and was accompanied by the approval of the platform's internal operating rules.
Previously, VTB placed its DFA issues through its subsidiary, VTB Capital Trading, which was added to the register back in December 2024. However, the bank is now moving to a qualitatively new level, gaining the ability to use its own technological capabilities and infrastructure. This is not just a change of legal entity—it is a strategic step that gives VTB full control over the process of issuing and circulating digital assets.
Expansion of the DFA Ecosystem
With VTB's inclusion in the register, the number of DFA platform operators in Russia will reach 24. As of June 24, the list included 23 participants, including VTB Capital Trading. Thus, VTB is becoming not just an issuer, but a full-fledged operator, opening up broad prospects for attracting corporate clients and institutional investors.
The regulator's decision confirms the trend toward consolidation of the DFA market around the largest financial institutions. VTB, with its powerful client base and resources, can significantly accelerate the adoption of digital assets in the real economy. This is especially important in conditions where traditional capital markets face restrictions.
My analysis: The inclusion of VTB in the register of operators is not just a formality, but a signal to the market. We are seeing how the largest banks are transitioning from the role of issuers to the role of full-fledged platform operators. This creates healthy competition and stimulates infrastructure development. For investors, this means the emergence of a reliable and regulated channel for accessing DFAs, which increases trust in the instrument as a whole.