This week Vladimir Putin signed a law that allows the use of digital financial assets (DFAs) for foreign trade payments. Russia’s concept of DFAs includes tokenized assets and financial instruments issued through central bank regulated institutions.
When DFAs were first introduced, tokenizing precious metals proved popular. So far digital platforms have supported the issuance of more than 350 instruments, including bonds, trade finance, and a variety of other offerings.
The central bank wanted to ensure these assets didn’t start replacing the ruble, so there’s a ban on DFAs for payments. That persists domestically, but to sidestep sanctions in response to Russia’s invasion of Ukraine, they’re looking for alternative settlement avenues.
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