Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year.
Volume of Digital Assets Increases in Russia as Investors Seek Alternatives to Traditional Instruments
Less than a year since Central Bank of Russia (CBR)-approved entities began issuing digital financial assets, these have issued DFAs for 2 billion rubles (over $26 million). The data was announced by Ekaterina Frolovicheva, general director of the tokenization service Atomyze.
Speaking at a round table in the ‘Digital Financial Assets – New Tool for Attracting Liquidity’ Public Chamber, Frolovicheva explained that the first DFA issuer was added to Bank of Russia’s register on Feb. 3, 2022, but the issuing of DFAs started several months later.
Quoted by the Tass news agency, she also noted that the unique features of DFAs make them extremely attractive and that demand is on the rise. For example, hybrid digital rights combine the properties of digital financial assets and utilitarian digital rights, simultaneously certifying a monetary claim and а right to…