Russia’s largest private bank Alfa Bank is just the fourth organization to land a digital financial assets (DFA) license from the Bank of Russia. In 2021 Russia introduced new regulations that cover some tokenized traditional assets as well as the tokenization of real world assets but exclude cryptocurrencies.
So far, the existing licensees have mainly focused on using blockchain instruments for factored invoices and precious metals such as palladium and gold. Alfa Bank will take a similar approach with tokenized ‘monetary claims’ and the tokenization of physical assets, including precious metals.
Alfa Bank says its A-Token platform will be used to raise money for companies from all classes of investors, including individuals and professionals, and is planning to issue some tokens itself.
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