Expobank placed digital bonds with a yield of 8% per annum

Expobank placed its first digital financial assets (CFA) on monetary claims on the Atomais platform. The press service of the credit institution announced this in June 2023.

The volume of targeted output amounted to 1 million rubles. The interest rate is 8% per annum, the circulation period is 7 days.

Expobank Floats Its First Digital Financial Assets

As explained in Expobank, the CFA for monetary claims is an analogue of "digital bonds." The investor's repayment income consists of two parts: the nominal value of the CFA plus interest income at a rate of 8% per annum.

For us, this is a pilot release of the CFA. Having tested the mechanics of the tool, we plan to further expand its use to other types of assets, "said Tanzila Yandieva, head of the legal department of Expobank.

According to the general director of Atomais Ekaterina Frolovicheva, by June 2023 the company is working to expand the pool of CFA issuers and, through real practice, to form the market's trust, experience and understanding of the advantages of this tool. She expressed hope that this debut release will be the beginning of a long-term partnership with Expobank in the digital financial asset market.

CFAs are digital rights, including monetary claims, the possibility of exercising rights under issue securities, the right to participate in the capital of a non-public joint-stock company, the right to demand the transfer of issue securities, which are provided for by the decision on the issue of CFAs. The release (recording in the information system of information about the crediting of the CFA by their first owner) and the circulation of digital financial assets in information systems are regulated by the Federal Law of 31.07.2020 No. 259-FZ "On Digital Financial Assets, Digital Currency and on Amendments to Certain Legislative Acts of the Russian Federation^[1]

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