Russia’s central bank officially announced on Thursday that the Bank of Russia has registered the Atomyze token service as the country’s first digital asset management company.

According to the report, the Bank of Russia has officially acknowledged that the rules for the business information system and the technical implementation of the platform are in accordance with Russian law.

The registration allows Atomyze to give its customers the opportunity to issue digital financial assets or DFA on its platform, as well as purchase “new types of assets in tokenized form.” The organization will also be able to “carry out exchanges independently within its platform” as the DFA exchange rules are “built into the rules for the information system”.

“To further develop the CFA, the Bank of Russia has formulated proposals to improve the regulation and taxation of such assets, which will increase the attractiveness and applicability of digital financial instruments. These proposals will in the near future be submitted for discussion in the form of a recommendation report.

According to the Atomyze website, it is a Russian blockchain company specializing in “digitization of various assets and transactions using distributed ledger technologies, including but not limited to DFA.”

In June 2021, Atomyze received funding from the Russian conglomerate and investment company Interros, co-founded by local billionaire businessman Vladimir Potanin. The Russian oligarch is known as the second richest person in Russia with a net worth of $ 28.8 billion. He earned his fortune by buying a stake in Norilsk Nickel, a nickel-palladium mining and metal company, during Russia’s privatization in 1995.

According to a separate statement from Interros, the Global Palladium Fund was one of the first issuers on the global Atomyze platform. The fund specifically launched an exchange-traded digital commodity backed by Norilsk Nickel assets on six European exchanges, including London and Frankfurt.

“Atomyze has become the first token platform in Russia to receive regulatory approval,” Interros wrote, adding that the ecosystem includes token platforms not only in Russia but also in other jurisdictions such as the United States and Switzerland. The ad also says:

“This will ensure Russia’s digital equality” in the global digital economy, make it easier for Russian companies to enter global markets and attract more foreign capital to Russia.
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As previously reported, the Bank of Russia is categorically opposed to domestic companies starting to offer services related to digital currencies, including investing in cryptocurrencies. The large domestic private bank Tinkoff bought a foreign cryptocurrency-related company in early January after the Bank of Russia allegedly prevented the company from launching its own series of related services last year.

At the end of 2021, Deputy Chairman of the Bank of Russia Vladimir Chistyukhin announced the bank’s intention to allow Russians to invest in cryptocurrency only through the currency infrastructure.

Source: CoinTelegraph