The Russian Central Bank for the first time included the company in the register of digital financial assets (DFA), the national law on this came into force only in January 2021.
The first member of the register was the tokenization service Atomyze, where Vladimir Potanin’s Interros is one of the investors.
“The Bank of Russia included the first organization – Atomyze LLC – in the register of information system operators… The regulator recognized the rules of the company’s information system and technical implementation of the platform as compliant with the legislation,” the Russian Central Bank stated on its website.
Atomyze ecosystem includes tokenization platforms not only in Russia, but also in other jurisdictions, such as, in the US and Switzerland. This will ensure Russia’s “digital equality” in the global digital economy, make it easier for Russian companies to enter world markets, and make it possible to attract more foreign capital to Russia.
Vladimir Potanin, Interros President: “The development of digital projects is a priority for Interros, since the digital economy opens up new opportunities for entering global markets, increases the competitiveness of the entire Russian economy, and allows more people to be involved in economic processes. Today, thanks to the adoption of the law on DFA and the competent policy of the Central Bank, Russia has all the prerequisites to ensure its digital leadership. Modern business is inseparable from digitalization, which allows it to be not only more successful, but also more transparent, which means more responsible and socially acceptable.”
Ekaterina Frolovicheva, Director of Atomize in Russia: “I am certain that our platform will serve as a powerful catalyst for the development of not only companies participating in the ecosystem, but ultimately contribute to the formation of a digital product vertical in the capital markets of the entire country.”
One of the first issuers of the Atomyze global platform was the Global Palladium Fund (GPF), which launched Exchange Traded Commodities (ETC) backed by Norilsk Nickel metals on six key European exchanges, including London and Frankfurt. Atomyze became the first tokenization platform in Russia to receive a regulatory approval. This became possible after the adoption of the law on DFA, with active support from Interros.
There is no legislative regulation of cryptocurrency in Russia. That is why the registration of the first company in the crypto registry is a landmark.
Earlier in February 2022, the Russian Ministry of Finance prepared a concept for regulating cryptocurrencies in the country. President Vladimir Putin requested financial state institutions to create a consensus, and the parliament began to prepare bills to regulate the cryptocurrency market.