Alfa-Bank pilots digital financial assets for private investors worth 10 million rubles

Alfa-Bank conducted a pilot issue of digital financial assets (DFA) backed by monetary rights for a pilot group of private investors. The report comes from Kommersant.

It concerns a form of unsecured fundraising. The tokens worth 10 million rubles are issued at 10% per annum for 30 days. Secondary trading of this issue will be possible from February 22 within Alfa-Bank’s internal network.

Access the platform and conduct transactions through the mobile app \”A-Token\”. Wider investor access to the platform is planned to open in the second quarter of 2023.

“The deal is not market in terms of volumes, rates and tenor; we are testing the client experience,” said bank representatives.

In particular, the DFA yield is higher than Alfa-Bank’s bonds.

At the moment, licenses to issue DFAs in Russia are held by the platform Atomyze, «LightHouse», Sberbank and Alfa-Bank. The Central Bank is considering six more applications for inclusion in the register of information-system operators.

Earlier in February, Rosbank, together with Atomyze, carried out Russia’s first deal for the exchange of tokenised gold using digital rubles.