The Russian platform Atomyze, powered by the Hyperledger blockchain, has launched the first palladium-backed digital financial asset. Rosbank invested in it.
This was one of the first investment transactions in Russia using digital financial assets (DFA). According to the management of Rosbank, the bank provided the infrastructure for settlements and acted as an investor. The issuer of the digital token pegged to the value of palladium was GPEF Investments LLC.
It should be noted that in February 2022, the Atomyze platform became the first registered DFA operator in Russia, which received permission from the Bank of Russia. The main investor of the site is the well-known Russian investment company Interros, headed by Vladimir Potanin.
According to Perizat Shaikhina, First Deputy Chairman of the Board of Rosbank, the first transaction using DFA in Russia proves that the financial market can actively develop using distributed ledger technology (DLT). In addition, the tokenization of rights to precious metals is a new tool that can become an alternative to investing in foreign currencies.
Atomyze CEO Ekaterina Frolovicheva added that the platform has come a long way in implementing the idea of releasing a DFA. To do this, we had to interact with the regulatory and legislative bodies of the country, which expressed their readiness to improve the financial market with the help of fundamentally new products.
“The issue of palladium-backed CFAs is a new stage in the management of precious metals sales in Russia and abroad. There is a growing demand for palladium in the world, as it is used in high-tech production, so the product will be in demand among investors,” commented Vladimir Pronsky, General Director of GPF Investments LLC.
A few days ago, Russian President Vladimir Putin signed a law on regulation of CFA turnover. According to this law, cryptocurrencies cannot be used as payment for goods and services. The law also contains the concept of “operator of electronic platforms”, which are regulated by the Bank of Russia.
Recall that the first deal with the issue and buyout of CFA was carried out at the end of June by VTB Bank together with the issuer Lighthouse. Last week, the Russian platform Sber also announced the issuance of a CFA in the amount of 1 billion rubles for a three-month placement period.
Source: Bits
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