Platforms authorized by the Bank of Russia issued digital financial assets (DFAs) worth around 1 billion rubles ($13 million) in April, as Russian companies experiment with new financial instruments amid limited access to traditional capital.
Most DFAs were sold by Sberbank and Alfa-Bank, with Atomyze, Lighthouse, and Masterchain also authorized to issue DFAs. Despite the significant increase from March, experts note that the market is still small and occupied by select large players.
Russia has been taking steps to expand the use of digital assets amid Western sanctions and limited access to global financial markets, including legalizing crypto payments and developing a digital ruble.
