The first digital financial assets secured by residential real estate were issued in Russia

The first digital financial assets (CFA) secured by residential real estate were issued in Russia. This became known on May 16, 2023.

According to Kommersant, the first release of such CFAs in Russia took place on the Atomais platform. The issuer was Airplane Plus ZFA LLC. One CFA is equivalent to 1 sq. m (estimated cost by mid-May 2023 - 233 thousand rubles) at the Kvartal Zapadny residential complex in New Moscow. Output volumes amounted to 10.4 CFA, they are addressed to a limited range of qualified investors determined by the issuer. The planned repayment of the issue with money from the sale of the apartment allocated for its provision will take place on December 31, 2025.

The first in Russia CFAs provided with residential real estate were issued

With the help of the CFA, you can buy real estate for investment and lower the threshold for entering the transaction, experts interviewed by the newspaper noted. In this case, real estate registration will not even be required, as in the case of mortgages for the purchase of housing for investment. But the diversification of investments is limited, and the price range, on the contrary, is large, experts say. Therefore, in their opinion, it will be necessary to work out legal mechanisms for protecting investors.

Denis Kondrakhin, general director of Airplane Plus CFA, said that retail investors are "an important pool, it is interesting to expand this community, which can be done through new instruments like CFA and ZPIFs." According to him, the company plans to increase the volume of real estate under the CFA.

Real estate retains its attractiveness for investment, especially in order to diversify investments, market participants note. At the same time, explains the general director of Atomaiz Ekaterina Frolovicheva, the high cost of housing and the "impossibility of crushing" limited the entrance to the classic market. The proposed tool solves this issue, according to the initiators of the new project.^[1]