Russia's largest private bank starts platform for digital assets - finance

Russia's largest private bank starts platform for digital assets - finance
Alfa-Bank, one of the largest Russian banking institutions, has set up its own platform for digital financial systems. The start was possible after the Russian currency authority included Alfa-Bank in its registers of the issuers of digital assets this week.
The privately owned Alfa-Bank sets a digital asset platform with the approval of the central bank
The Russian Alfa-Bank started "A-token", a platform that enables the issue of digital financial systems (DFAS), the Economic Netists Portal RBC reported, citing its Director of Innovation Denis Dodon. The bank was able to do this according to the Bank of Russia announced his registration as a DFA-emittent on Thursday.
Approval makes Alfa-Bank, the largest private bank in the country, the second largest banking institute, which can shape digital coins, according to the state Sberbank, which is the largest bank in the Russian Federation in terms of assets.
The FinTech company LEEGTHTURM Atomysis that works with rosbank. These have already spent various digital assets. The Sberbank prepares the start of a defi platform as well
The Alfa-Bank plans to publish its own DFAs on the new platform, with a pilot version planned for the end of February. It also wants to make its infrastructure available to other market participants. The bank hopes to be able to work with investment companies and private investors, and A-token will be accessible via its mobile app.
dodon further explained that the platform will issue two types of financial instruments - DFAS that meet traditional financial instruments in the form of monetary claims, and completely new investment instruments, including tokenile physical assets such as precious metals.
The Alfa-Bank announced its intention to create an infrastructure for DFAs in September 2022. Their edition in Russia is regulated by the law "via digital financial investments", which came into force in January 2021. While this legislation mainly refers to digital systems, the Russian authorities have also developed an for Decentralized cryptocurrencies like Bitcoin.
crypto payments were considered in Moscow as a way to avoid Connection with the war in Ukraine were imposed, and a Digital Rubel is also in the MACH. Both the Alfa-Bank and the Sberbank were placed underneath sanctions by the US Ministry of Finance and the Russian access to crypto assets targeted by the European Union.
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