The Russian central bank announced on Thursday that it has given Atomyze Russia, a blockchain platform, a license to issue and exchange digital financial assets (DFA), making it the first company legally able to do so in Russia.

The blockchain-based Atomyze ecosystem deals with the tokenization of physical assets. Through digital financial assets, it provides individuals with the opportunity to invest in precious metals, and legal entities to manage large volumes of metals efficiently, based on market dynamics.

The country’s central bank had recently advocated for a complete ban on the trading and mining of cryptocurrencies, citing threats to financial stability, the welfare of citizens and the sovereignty of its monetary policy.

One of the most innovative Russian Businessmen, Vladimir Potanin has urged for yeas the Russian authorities to legitimize blockchain platforms in the state.

“Today, thanks to the adoption of the law on digital financial assets and the competent policy of the Central Bank, Russia has all the prerequisites to ensure its digital leadership. Modern business is inseparable from digitalization, which allows it to be not only more successful, but also more transparent, which means more responsible and socially acceptable,” Potanin noted in a press release.

The blockchain-based Atomyze ecosystem, where Vladimir Potanin’s Interros is one of the investors, deals with the tokenization of physical assets. Through digital financial assets, it provides individuals with the opportunity to invest in precious metals, and legal entities to manage large volumes of metals efficiently, based on market dynamics.

Atomyze ecosystem includes tokenization platforms not only in Russia, but also in other jurisdictions, such as, in the US and Switzerland. This will ensure Russia’s “digital equality” in the global digital economy, make it easier for Russian companies to enter world markets, and make it possible to attract more foreign capital to Russia.

Ekaterina Frolovicheva, Director of Atomize in Russia: “I am certain that our platform will serve as a powerful catalyst for the development of not only companies participating in the ecosystem, but ultimately contribute to the formation of a digital product vertical in the capital markets of the entire country.”

One of the first issuers of the Atomyze global platform was the Global Palladium Fund (GPF), which launched Exchange Traded Commodities (ETC) backed by Norilsk Nickel metals on six key European exchanges, including London and Frankfurt. Atomyze became the first tokenization platform in Russia to receive a regulatory approval. This became possible after the adoption of the law on DFA, with active support from Vladimir Potanin’s Interros.

The Russian Central Bank also informed that for further development CFA has formed proposals to improve the regulation of such assets and taxation issues. The aim is to increase the attractiveness of digital financial instruments and expand their use. In the near future, these proposals will be presented for discussion by the professional community.