VTB Capital Investments plans to offer digital financial assets

The VTB Capital Investments platform plans to offer digital financial assets (DFA) to qualified investors backed by debt obligations or commodities. Interfax reports, citing VTB Senior Vice President Vladimir Potapov.

Currently the company is in talks with blockchain projects on which the ecosystem will be built. There are no plans to create its own information-platform operator or DFA operator in the near future.

“We intend to use the infrastructure of other players and are in close contact with them. As soon as these operators gain the ability to register with the Central Bank to obtain the right to work with digital assets and the issue of double taxation on profits from DFA operations is resolved, we will be ready to start working with them. Technically, there are no problems,” Potapov said.

According to him, demand for this type of investment will grow, and if a client cannot access digital assets through their broker, they will seek access somewhere else.

“People want to know how much their assets are worth: real capital, digital capital, intangible assets. If in the future the platform can answer all these questions, bring it all together, and ideally also provide liquidity, it will become indispensable,” says VTB’s Senior Vice President.

The Law on Digital Financial Assets came into force on 1 January 2021. It recognises cryptocurrencies as property and prohibits using them to pay for goods and services in the country.

Earlier in February, VTB head Andrey Kostin said that restrictions on the Russian stock market could trigger the outflow of individual investors into cryptocurrencies.

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