Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year.

Less than a year since Central Bank of Russia (CBR)-approved entities began issuing digital financial assets, these have issued DFAs for 2 billion rubles (over $26 million). The data was announced by Ekaterina Frolovicheva, general director of the tokenization service Atomyze.

Quoted by the Tass news agency, she also noted that the unique features of DFAs make them extremely attractive and that demand is on the rise. For example, hybrid digital rights combine the properties of digital financial assets and utilitarian digital rights, simultaneously certifying a monetary claim and а right to demand the transfer of an asset.

Atomyze is one of the platforms authorized by the CBR to issue DFAs, alongside the fintech company Lighthouse, as well as Sberbank and Alfa-Bank, Russia’s largest state-owned and private bank, respectively. Another entity was recently licensed — Distributed Registry Systems, which operates the ‘Masterchain’ blockchain platform.