VTB completed its first transaction involving crypto assets using a digital depository. Legal entities that are clients of the bank’s brokerage service traded stablecoins, with settlements processed through VTB’s digital depository—an organization included in the Bank of Russia’s register and responsible for recording and safekeeping digital currencies and the rights associated with them.
The pilot transaction was conducted on October 6 using Russian infrastructure. It demonstrated that the systems for trading, recording and safekeeping assets are ready before the service becomes available to a wider range of clients. The law regulating digital currencies came into force on September 1, and the rules for authorizing intermediaries to engage in this activity took effect on October 5.
The pilot transaction was conducted on October 6 using Russian infrastructure. It demonstrated that the systems for trading, recording and safekeeping assets are ready before the service becomes available to a wider range of clients. The law regulating digital currencies came into force on September 1, and the rules for authorizing intermediaries to engage in this activity took effect on October 5.