Expobank issued the first targeted digital bonds on the Russian digital asset platform Atomyze. CFAs are sold with an interest rate of 8% per annum and a maturity of 7 days.
Compared to classic bonds, their digital equivalent has advantages such as “speed of issuance, fewer intermediaries and savings in commission costs, as well as the absence of complex documentation”, according to a representative of the bank.
Expobank said that after the successful testing of the DFA issue, there is an intention to tokenize other types of financial assets.
“For us, this is a pilot issue of the CFA. Having tested the mechanics of the tool, we plan to further expand its application to other types of assets,” said Tanzila Yandieva, head of the legal department of the bank.
In addition to Atomyze, Sberbank, Alfa-Bank, Lighthouse and MasterChain have licenses to issue CFA in the Russian Federation. In May, the Norilsk Nickel group of companies issued the first CFAs for participants in the corporate investment program. The Digital Assets service company has been appointed as the issuer of Norilsk Nickel’s digital financial assets, and the group’s employees were the first to acquire the right to purchase digital financial assets.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
