Expobank issues a digital financial asset on the Atomyze platform

On the Atomyze platform, a targeted issue of digital financial assets (DFA) by JSC Expobank for 1 million rubles took place. ForkLog reported this, according to the company’s representatives.

Each DFA certifies the monetary claim of its holder against the issuer, similar to ‘digital bonds’. The investor’s yield at redemption consists of the token’s nominal value and interest at a rate of 8% per year. The circulation period is seven days.

“Compared with traditional bonds, DFAs have advantages such as faster issuance, fewer intermediaries, lower commission costs, and the absence of complex documentation,” Atomyze said.

Settlements are carried out in Russian rubles, based on a nominal account at Rosbank.

Representatives of Expobank said that after a successful pilot of the DFA issuance they intend to tokenize other types of assets.

As of now, in addition to Atomyze, licenses to issue DFAs in Russia are held by LightHouse, Sberbank, Alfa-Bank and Masterchain.

As reported by the media, in April operators of Russian information systems issued digital financial assets totaling around 1 billion rubles.