SPB Exchange will create a DeFi and DFA development department

The platform’s strategy aims to form an ecosystem for the circulation and development of various products based on digital rights

23.03.2023 - 10:00

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3 min

What’s new? SPB Exchange, the largest organizer of trading in foreign securities in Russia, plans to create a department for the development of decentralized finance (DeFi) and digital financial assets (DFAs), FRANK MEDIA reports with reference to hh.ru. There are open vacancies for specialists who will work out the business requirements for the DFA information system and projects within it, conduct testing, and cooperate with clients on this issue.

FRANK MEDIA’s material

What else is known? A representative of the St. Petersburg Stock Exchange explained that the platform’s strategy is currently aimed at creating an ecosystem for the circulation and development of various products based on digital rights. In addition, the exchange prepares to apply to the Bank of Russia for the status of the information system (IS) operator, which allows issuing of DFAs.

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The IS operator status is currently held by Sberbank and Alfa Bank, as well as the Atomyze and Lighthouse platforms. The Moscow Stock Exchange is working on obtaining this status.

In December 2022, Deputy of the State Duma of the Russian Federation Anatoly Aksakov allowed the possibility of launching the Russian crypto exchange in the second quarter of 2023, saying that he did not exclude the involvement of SPB Exchange in this process. Later, the Ministry of Finance supported the idea of bringing DFAs to Russian exchanges.

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