At the AFT site, the release of CFA by SMEs on the security of real estate with the participation of the collateral manager is piloted

2024: Issue of CFA by SMEs on the security of real estate with the participation of the manager of the security

At the site of the FinTech Association (AFL), a pilot was launched to use digital financial assets (CFA) to attract financing by small and medium-sized businesses (SMEs): an individual entrepreneur released a CFA on the Tokeon platform, the first owner of which was Center Invest Bank. Within the framework of the pilot, the AFL proposed a model that includes collateral management in the process, this will speed up the circulation of the CFA and increase the liquidity of the CFA market. The AFL announced this on April 12, 2024.

In accordance with the recommendations of the AFL working group, Center-Invest Bank organized the issue of CFA on the Tokeon platform in the form of a monetary claim secured by real estate. As part of the pilot project, the possibility of registration with Rosreestr by an SME entity of a pledge of real estate, which is a security for the fulfillment of monetary obligations certified by the CFA, under an agreement with the managing pledge, was tested.

The key feature of the model of the targeted business process proposed by the AFL is the participation of the pledge manager - a trustee of the owner of the CFA - in the circulation of pledged real estate CFAs issued by SMEs. This approach stimulates the development of the CFA secondary market, will create conditions for attracting new participants as investors, and will also make it possible to create new models for tokenizing credit products, "said Dmitry Ishchenko, Deputy General Director of the FinTech Association.

This issue of CFA is a very important step for the entire market, because in this way we can democratize the lending market, allowing not only financial institutions and banks to enter it, but also other participants. We have developed a mechanism for managing collateral under the obligations of the borrower and have created a precedent that will allow borrowers to independently determine the rate, and creditors to compete for borrowers, based on the quality of the collateral provided, "said Maxim Khrustalev, General Director of Tokeny LLC (operator of the Tokeon platform).

CFA with real estate collateral has the potential to become a new market for financing SMEs. The release of the CFA confirms the readiness of Center-Invest Bank to introduce digital technologies into operation and opens up new prospects for interaction with clients and investors, "said Yuri Bogdanov, Deputy Chairman of the Board of Directors of Center-Invest Bank, Director of Innovation.