{"id":531733,"date":"2022-12-27T15:43:10","date_gmt":"2022-12-27T12:43:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/russias-largest-bank-issued-gold-backed-digital-financial-assets\/"},"modified":"2022-12-27T15:43:10","modified_gmt":"2022-12-27T12:43:10","slug":"russias-largest-bank-issued-gold-backed-digital-financial-assets","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/russias-largest-bank-issued-gold-backed-digital-financial-assets\/","title":{"rendered":"# Russia&#8217;s largest bank issued gold-backed digital financial assets"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f7f75d2a62\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f7f75d2a62\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/russias-largest-bank-issued-gold-backed-digital-financial-assets\/#%E2%80%9D_Russias_largest_bank_issued_gold-backed_digital_financial_assets_%E2%80%9C\" >&#8221; Russia&#8217;s largest bank issued gold-backed digital financial assets  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Russias_largest_bank_issued_gold-backed_digital_financial_assets_%E2%80%9C\"><\/span>&#8221; Russia&#8217;s largest bank issued gold-backed digital financial assets  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvODlmMGQzNDYtMThmMy00NjZhLTk4ZjMtNjE0MDkyNDI3MTY2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-71d2d00b>Russia\u2019s largest bank Sber \u2014 formerly known as Sberbank \u2014 reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a \u201cgreat alternative\u201d to investments amid dedollarization.<\/p>\n<p>On Dec. 26, Sber <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.sberbank.ru\/en\/press_center\/all\/article?newsID=b49bd8f3-50ec-46b3-a84e-c6d4bbff7467&amp;blockID=1539&amp;regionID=77&amp;lang=en&amp;type=NEWS\">published<\/a> the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> about its first issue of gold-backed DFAs. A diversified metals seller and manufacturer, Solfer, became the first investor to obtain the issued assets. Gold-backed DFAs represent certifying monetary rights, whose price and volume depend on gold prices.<\/p>\n<p>According to juridical <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.sberbank.ru\/common\/img\/uploaded\/legal\/docs\/digital-assets\/reshenie-o-vypuske-09122022.pdf\">documentation<\/a> of the issuance, the bank will provide up to 150,000 DFAs for potential investors to buy. The DFAs will be available to acquire until Jul 30, 2023. The document mentions \u201cthe high risks\u201d for investors, ingrained in such kind of assets, including \u201cthe risk of illiquidity.\u201d <\/p>\n<p>The first deputy chairman of the Executive Board at Sber, Alexander Vedyakhin, claims these kind of DFAs to be an alternative to traditional investments amid the dedollarization, caused by the international financial sanctions, imposed on Russia in the aftermath of its invasion to Ukraine: <\/p>\n<blockquote><p>\u201cWe expect the number of corporate clients on our platform to grow rapidly and plan to expand the product line of digital financial assets.\u201d\u00a0<\/p><\/blockquote>\n<p>While current legislation on the DFA was put in force in 2020, in July 2022 Russian President Vladimir Putin has signed a bill into law prohibiting digital financial assets as payments method.\u00a0<\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Russia&#8217;s Sber bank integrates Metamask into its blockchain platform<\/em><\/strong><\/p>\n<p>In June, a subsidiary of another Russia\u2019s state-owned bank, VTB Factoring, reported its 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. Sber has tested its first deal involving DFAs later in July, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sberbank.com\/ru\/news-and-media\/press-releases\/article?newsID=e87c22dc-2b00-462a-82ab-01f73cd6e141&amp;blockID=7&amp;regionID=77&amp;lang=ru&amp;type=NEWS\">issuing<\/a> the three-month assets valued 1 billion roubles (around $14.5 millions by press time). <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/russia-s-largest-bank-issued-gold-backed-digital-financial-assets\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Russia&#8217;s largest bank issued gold-backed digital financial assets &#8220; Russia\u2019s largest bank Sber \u2014 formerly known as Sberbank \u2014 reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a \u201cgreat alternative\u201d to investments amid dedollarization. On Dec. 26, Sber published the news about its first issue of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":531734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/89f0d346-18f3-466a-98f3-614092427166.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,79786,82253,74355,4975],"class_list":["post-531733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-digital-asset","tag-sberbank","tag-adoption","tag-russia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/531733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=531733"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/531733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/531734"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=531733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=531733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=531733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}