Alfa-Bank launched its own platform “A-Token” for the issuance of digital financial assets (DFA), writes RBC Crypto. This became possible after the bank was included in the register of information system operators of the Bank of Russia – more on this on Thursday, February 2, informed the Central Bank itself.
Alfa-Bank became the second largest bank in the register after Sberbank. Now it also includes the Lighthouse fintech company, which issues CFA together with VTB, and the Atomize platform, of which Rosbank is a partner. On these platforms, for example, the first issues of DFAs for gold and for accounts payable have already passed.
Alfa-Bank plans to use its platform for self-issuance of DFA, as well as to provide its infrastructure to market issuers. Customers can access it through the bank’s mobile application. According to Dodon, the bank expects to work with professional investors and companies, as well as with private investors. The pilot release of the CFA is planned for the end of February.
“A-Token will issue two types of digital financial instruments: equivalents of traditional financial instruments in the form of monetary claims and fundamentally new investment instruments, which have no analogues on the market. For example, the tokenization of physical assets, including precious metals,” says Dodon.
He explained that the tokenization of physical assets allows an investor to receive either a monetary claim tied to the price of an asset or the physical asset itself, thereby giving it liquidity.
The operation of the platform is based on the principle of a safe transaction – the investor advances funds for it. If the issue collects the minimum required number of applications, the funds will be credited to the issuer, and if not, they will be returned to investors. The same principle is implemented in the secondary market – smart contracts assume that the seller has an asset, and the banking gateway assumes that the buyer has money, Dodon described the principle of operation.
The fact that Alfa-Bank plans to create an infrastructure for the issuance of CFA became known in September 2022. Then the bank expected to do this before the end of last year.
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