March 28, 2024

Expobank releases debut DFAs on the Atomyze platform

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Expobank releases debut DFAs on the Atomyze platform

The first issue of digital financial assets of the Expobank joint-stock company in the amount of 1 million rubles took place on the Russian Atomyze platform.

Expobank has issued the first targeted digital bonds on the Russian digital assets platform Atomyze. DFAs are sold with an interest rate of 8% per annum and a maturity of 7 days.

According to a bank representative, comparedwith classic bonds, their digital counterpart has advantages such as “speed of issuance, fewer intermediaries and savings in commission costs, as well as the absence of complex documentation.”

Expobank stated that after successful testing of the DFA issue, there is an intention to tokenize other types of financial assets.

“For us, this is a pilot release of the DFA.Having tested the mechanics of the tool, we plan to further expand its use to other types of assets,” said Tanzila Yandieva, head of the bank’s legal department.

In addition to Atomyze, Sberbank, Alfa Bank, Lighthouse and Masterchain companies have licenses to issue DFA in the Russian Federation. In May, the Norilsk Nickel group of companies released
first DFA for corporate participantsinvestment programs. The Digital Assets service company was appointed as the issuer of Norilsk Nickel’s digital financial assets, and the group’s employees were the first to acquire digital financial assets.