September 21, 2023

Expobank releases debut DFAs on the Atomyze platform

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Expobank releases debut DFAs on the Atomyze platform

On the Russian platform Atomyze, the first issue of digital financial assets of Expobank Joint-Stock Company for the amount of 1 million rubles took place.

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.

According to a bank representative, compared toWith classic bonds, their digital counterpart has the advantages of "speed of issuance, fewer intermediaries and savings in commission costs, and the absence of complex documentation."

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 DFA for the participants of the corporateinvestment programs. 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.