Atomyze to Manage Digital Financial Assets in Russia

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The Russian central bank announced on Thursday that a local subsidiary of Swiss-based blockchain platform Atomyze has been granted a license to issue and exchange digital financial assets, making it the first company in Russia to do so legally.

According to a document seen by Reuters, Russian authorities are working on ways to regulate cryptocurrencies without outright banning trading and mining, as the central bank has advocated.

The central bank stated that Atomyze does not violate Russian laws, indicating that Russia will avoid a total ban on digital assets.

Atomyze uses blockchain technology to tokenize real assets, allowing retail investors to buy precious metals and legal entities to manage large volumes of such metals, according to a statement released by Interros on Thursday.

Atomyze’s investors include Interros, the largest shareholder in Norilsknickel (GMKN.MM), the world’s leading nickel producer.

The license will allow Atomyze’s clients to issue digital assets, while the company will be able to exchange them on its platform, according to the central bank.

The central bank had previously advocated for a complete ban on cryptocurrency trading and mining, citing threats to financial stability, citizens’ well-being, and the central bank’s monetary policy sovereignty.

President Vladimir Putin, on the other hand, called for a balanced approach, asking the finance, economy, digital, and interior ministries, as well as the FSB security service and the central bank, to develop a strategy for dealing with the sector.

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Shambhavi Soni
Shambhavi Soni

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