The first DFA for a basket of precious metals was issued in Russia

What’s new? The Atomyze digital asset platform released its first digital financial asset (DFA) for a basket of precious metals. It included gold and silver, as well as the platinum group metals platinum, palladium, rhodium, iridium, and ruthenium. The metals are produced by the DFA issuer, Krastsvetmet. Vector X broker became the investor, Atomyse said in a press release.

Atomyze press release

What else does the press release say? Platform representatives noted that rhodium, iridium and ruthenium represented in the basket are rare precious metals not available on the open organized market.

According to the statement, it is the first DFA in the country to have a diversified portfolio of assets that includes a ready-made investment idea. It consists of investing in precious metals as an alternative to assets in the foreign exchange and stock markets. In addition, the composition of the basket is designed to protect the investor in case of the volatility of any of the metals.

According to Ekaterina Frolovicheva, general director of Atomyze, the deal opens a new class of diversified DFAs. She noted that it will allow the tokenization of entire industries and attract investment in them through digital assets. Frolovicheva said that “new technologies make this process convenient and transparent for both the investor and the issuer.” In addition, in terms of security, DFAs are not inferior to classic stock market instruments, she concluded.

Earlier, Frolovicheva noted that the advantage of DFAs over cryptocurrencies is real financial security.

Mikhail Dyagilev, general director of Krastsvetmet, called DFAs a new round of development of the digital economy, and their main advantage is the ability to quickly, safely and conveniently move values between market participants. He said that by partnering with Atomyze and Vector X, the company will be able to provide precious metals financing to a wide range of investors.

Vector X had previously invested in DFAs. The broker bought out DFAs for palladium from Nornickel on the Atomyze platform. Igor Yevtushok, general director of Vector X, also noted the prospects of demand for digital financial instruments.

What is known about Atomyze? It is a Russian operator and DFA platform with an authorized capital of 93,3 million rubles. In February, the company was the first in Russia to be allowed by the Central Bank to issue and circulate digital financial assets. This summer Atomyze carried out three DFA issues, including for palladium. In June, representatives of the company said that they expect to attract 1 million clients within five years.

What is known about Krastsvetmet? It is one of the world leaders in the production of precious metals. At the end of 2021, the company's revenue amounted to 72 billion rubles. All shares of Krastsvetmet are owned by the Krasnoyarsk Region.

In August, Russian mining and metallurgical company Nornickel tokenized its accounts payable to equipment supplier Sever group. Nornickel conducted an issue of digital counterparts of bonds on the blockchain platform Atomyze. The token, called New Money Market (NMM), is secured by the company's financial obligations to repay on a certain date.