Ethereum will soon host the DeFi platform of the Russian bank Sberbank

Thanks to Alfa-Bank, Russia adds a name to the charts of its digital asset platforms. The Bank of Russia, in fact, decides to include Alfa-Bank in the register of operators of information systems where digital financial assets are issued. An authorization that allows Alfa-Bank to issue digital financial assets (DFA).

Russia’s largest bank, Alfa-Bank, launches its digital asset platform

Alfa-Bank, in the footsteps of Sberbank

The authorization that Alfa-Bank has just obtained from the Russian Central Bank makes it the second financial institution authorized to mint digital coins. Sberbank has already obtained this license from the Central Bank in March 2022. This makes it the largest bank in Russia not only in terms of assets, but also in terms of the number of customers. It currently has more than 110 million customers. It has already launched the first blockchain-based ETF in Russia. Sberbank does not stop there. From May, it also plans to launch a DeFi-based platform based on Ethereum.

A-Token, a platform for issuing digital financial assets in Russia

As explain, Alfa-Bank plans to issue its own DFAs on the new platform. By the end of the month, we will set up a pilot version.

The new A-Token platform will issue two kinds of DFA:

  • DFAs in the form of monetary claims. They designate the usual financial instruments;
  • DFAs as fundamental investment instruments. In this category, we find physical assets such as precious metals.

This new Russian platform offers secure transactions. When an investor advances funds, they will be credited to the issuer on one condition: the issue meets the required minimum number of requests. Otherwise, the funds will be returned to the investor.

The activities planned shortly are only the beginning of an ambitious project for Alfa-Bank. This Russian bank indeed intends to popularize digital assets among private clients in the retail sector. The announcement of this project obviously benefits Russia, which aims to become a leader of the digital asset market.

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