​Russian unqualified investors were allowed to make deals with DFAs for the first time

What’s new? Atomyze, a digital asset platform, conducted its first trade with individuals. Unqualified investors were able to buy digital financial assets (DFAs) for palladium, Vedomosti reports, citing a representative of Atomyze. Vector X Broker acted as the seller of DFA and clients of Otkritie Investments acted as buyers. Ekaterina Frolovicheva, general director of Atomyze, said that each of the investors bought one DFA, without disclosing the amounts of trades. Vector X COO Sergey Ryzhov explained that the issues were pilot and, therefore, the amounts were irrelevant.

Vedomosti’s Material

What else is known about the trades? Yury Maslov, general director of Otkritie Investments brokerage, told about the event for unqualified investors with the participation of Atomyze specialists, where the questions of investments in DFAs, security, liquidity, current legislation, market development perspectives, and differences of this instrument from other investment assets were discussed.

As a result of the meeting, several people became interested in buying DFAs. Investors registered on Atomyze, having passed all compliance procedures. After opening personal account access, they received targeted offers from Vector X.

Vector X was selling part of the palladium DFAs it acquired itself in July, issued by GPF Investments, an international fund with a portfolio of precious metals. After payment, the digital assets were transferred from the seller’s wallet to the buyers’ wallets on Atomyze. The mechanism is similar to traditional secondary trading on the over-the-counter market. The buyer has a direct relationship with the issuer, which guarantees the payment of the full value of the assets, Frolovicheva noted.

The maturity range of DFAs issued is from December 1 to 8. The short period was chosen to test all stages of turnover from issue to maturity, Ryzhov explained.

In October the first DFA for a basket of precious metals was issued on the Atomyze platform. It included gold, silver, platinum, palladium, rhodium, iridium, and ruthenium. Later, the media reported that brokers may appear on the Russian market of DFAs to conduct secondary transactions in the OTC segment. Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, believes that 2023 will be the “year of DFAs” in Russia.