Alfa-Bank and mining company Alrosa have launched digital financial assets (DFA) linked to sales of large and rare investment-grade diamonds with guaranteed currency returns, the lender said in a statement.
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The Digital Cards tool is available on Alfa-Bank’s blockchain platform: A-Token. The average expected return will be up to 8% over a horizon of up to one year.
The first product of the new tool is a fancy yellow cushion-cut diamond. Its weight is 11.49 carats.
As can be seen from the statement, thanks to Digital Cards, investors will be able to participate in the profits from the sale of diamonds in the future. The cost of a DFA is $8,301.5 and the total issue volume will be 70 DFA or 70% of the stone price. Another 30% will remain owned by Alrosa.
“Digital Carats” are denominated in US dollars with settlements in rubles. The DFA is issued for a period of 12 months, with the possibility of early repayment by the issuer provided the diamond is sold before the specified period.
Last fall the first DFAs for diamonds were published in Russia.
Author:
Natalia Gormaleva
Source: RB
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