VTB will create a platform for the issuance and circulation of digital financial assets (DFA). This was announced by member of the board of directors of the credit organization Vitaly Sergeychuk at the VTB forum “Russia Calling!”, his words were quoted by the company’s press service.
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“We are now ready to offer our largest customers individual DFA-based solutions, and packaged solutions will appear as DFA functionality is developed in sales channels. The first launch on our platform will take place before the end of 2024. The active phase of its development will begin in 2025,” Sergeichuk said.
The launch of the DFA platform was possible thanks to the fact that the Central Bank included the subsidiary of VTB Capital Trading Bank in the register of operators of DFA information systems. Thus, VTB partners will receive additional tools for managing corporate finances and retail clients will receive new investment and savings opportunities, the credit institution explained.
They noted that in 2024 VTB was the first in Russia to offer private investors DFA linked to the dynamics of the cost of a physical square meter in the hideOUT premium residential complex under construction.
In addition, the bank was the first among domestic credit institutions to acquire hybrid digital rights certifying the supply of Russian equipment, the VTB press service added. The issuer of the DFA was one of the largest domestic developers and manufacturers of computer equipment, ICS Holding.
At the end of October, the number of DFA issuances in Russia exceeded 800 and their total volume reached 450 billion rubles, according to VTB. At the same time, the volume of VTB DFA issues accounted for about 20% and amounted to 85 billion rubles.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
