Sberbank supports possibility of settlements with digital assets, CBR opposed - first deputy head
MOSCOW. Dec 14 (Interfax) - Sberbank is in favor of introducing the possibility of settlements with digital financial assets (DFA), but the Central Bank of Russia does not yet support the idea, Sberbank first deputy head Alexander Vedyakhin said.
"What are we missing? Actually it would be good to be able to pay with DFA, to carry out some transactions with DFA. Now, we know the position of the regulator, they object to this," Vedyakhin said at the Fintech Conference organized by the Vedomosti newspaper.
He said that it is unlikely that payments will be made with DFA on the assets of some mid-tier company, but "if it is a DFA on gold, it has its own clear confirmed value."
"We are now in discussions with the regulator, I am sure that we will find a common language," the first deputy chairman of Sberbank said.
The approach to DFA regulation is very similar to the approach to the regulation of the securities market, he said. "There are pluses to this, but there are also downsides, of course, obvious ones, because it can make this regulation very complicated, and we are also now talking about this with the Central Bank," Vedyakhin said.
The DFA market will grow, he said. It is possible to attract liquidity in this market through the admission of individuals, Vedyakhin said.
Sberbank plans to admit individuals to its DFA platform at the end Q1 or beginning of Q2 2023. "That is, March-April, I think our individual clients will already enter our DFA platform and come there with liquidity," Vedyakhin said.
He also added that he expects the number of DFA platforms to increase. "We expect that Masterchain, Alfa Bank and the Moscow Exchange will enter [this market - IF]," the first deputy head said.
There are currently three companies in the register of operators of information systems to issue DFA, which is maintained by the Central Bank: the blockchain platform Atomyze (its consortium of investors includes Interros), Sberbank's platform and fintech company Lighthouse (which is developing a digital financial ecosystem together with Transmashholding).