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VTB sealed the first deal with digital financial assets in Russia

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cointelegraph.com

VTB Factoring, a subsidiary of Russia’s state-owned bank, reported the first major deal with digital finance assets. As part of the deal, the bank subsidiary acquired a tokenized debt pool of the engineering company Metrowagonmash, issued via the fintech platform Lighthouse.On Wednesday, June 29, VTB reported the deal on its webpage, claiming it to be the first issuance and placement of digital financial assets secured by cash in the Russian Federation.

In the announcement, the bank compares it with the issue of short-term commercial bonds. Anton Musatov, CEO at VTB Factoring, emphasized the new technology’s potential regarding the access of Russian businesses to the funds necessary for operational activities:In June 2022 the largest Russian bank Sber announced its first operation with the digital financial assets (DFA) to take place in Mid-July, after finally obtaining a license from the country’s central bank.

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