Russia’s largest stock, bond and derivatives market, the Moscow Stock Exchange, intends to launch a product based on digital financial assets later this year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital tokens.
The best exchange in Russia to facilitate the trading of financial instruments based on digital assets
The launch of a product based on digital financial assets (DFA) is in the plans for 2022, a high-ranking representative of the Moscow Stock Exchange (MOEX) indicated in a recent interview. The announcement comes after a turbulent period for Russia’s main stock exchange when it had to deal with market volatility, pressure from sanctions and cyber attacks earlier this year.
In addition to “digital rights,” DFAs are currently the main legal term in Russian law that applies to various digital assets, including cryptocurrencies, according to some statements by Russian officials, but mainly those that have a specific issuer.
Now MOEX is working with one of its partners to realize a project to place digital tokens, Director General of Information Technology and Board Member of the Moscow Stock Exchange, Andrey Burilov, told the Tass news agency . He pointed out that this is a real economy company and elaborated:
The main point here is to link the company’s fixed assets with the investment market through digital technologies.
Digitization of basic products creates added value for market participants, Burilov emphasized. MOEX aims to use DFA to offer its clients another investment tool that offers a fundamentally new way to ensure information security.
Burilov also noted that the main difficulty in terms of implementation is that this is a completely new product for the market, from regulation to software. Another challenge is its integration into the existing systems of the stock exchange and its customers, he pointed out.
In early July, the head of the lower house of parliament’s Financial Market Committee stated that a Russian digital asset exchange would be in the best position to process crypto transactions in the country. Anatoly Aksakov also suggested that the crypto trading platform could be established on the Moscow Stock Exchange.
Tags in this story
Crypto, Cryptocurrencies, Cryptocurrencies, DFA, Digital Assets, Digital Financial Assets, Digital Rights, Digital Tokens, Exchange, Financial Instrument, Moex, Moscow Stock Exchange, Product, Russia, Russian, Trading Platform
Do you think MOEX will follow through on its plan to start trading digital financial assets by the end of the year? Tell us in the comments section below.
Lubomir Tassev
Lubomir Tassev is a tech-savvy Eastern European journalist who likes Hitchens’ line: “Being a writer is what I am, rather than what I do.” In addition to crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.
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