This week Expobank for the first time issued a loan through the conclusion of an individual bank loan agreement secured by Waves tokens.
According to the press release, during the transaction, an escrow mechanism was used, which is currently the best option for fulfilling obligations through the transfer of deposited digital assets.
According to the borrower Mikhail Uspensky, he does not plan to sell his tokens, but believes that the cryptocurrency should not lie dead weight, but work.Although there are already projects on the marketDeFi, which allows digital assets to be pledged for fiat, but such a deal is difficult to arrange with Waves.
The amount of the loan was not disclosed.
As Alexander Zhuravlev, manager explainsa partner of the law firm “EBR”, involved in supporting the transaction on the client’s part, tokens at least fall under the definition of “other property.” However, since they are non-payable, their turnover in Russia is not limited. Lawyers note that although such transactions can be carried out quite legally in the country, there is still legal uncertainty in this area.
In 2020, many banks around the world beganwork with cryptocurrency, and in July the US Office of the Comptroller of the Currency officially allowed all national banks to provide custody services for digital assets.
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