These are the first DFAs in the country secured by collateral of such assets. A warehouse receipt of a digital financial asset (DFA) is a security that certifies the holder’s right to receive the specified asset in kind or cash.
The prospectus states that the maturity of the warehouse DFAs is one year, and the value of the collateral is tied to the value of gold and is defined as 98% of the price of 100 grams of the precious metal. Now it is about 670,000 rubles.
According to the Civil Code, if a warehouse receipt is pledged, it is considered that the pledge also includes property, the right to receive which is certified by a digital asset. This form of transaction allows holders of warehouse DFAs to receive collateral property both in Russia and abroad. In addition, warehouse DFAs provide advantages to creditors in foreclosure, and investors have the right to demand redemption of the DFA at any time in the manner determined by the issuance resolution.
In April, Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said that mechanisms for using digital financial assets when making cross-border payments will be launched before the end of the year.
Source: Bits
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