Russian Railways held the largest issue of CFA in Russia - by 15 billion rubles

On June 16, 2023, the largest transaction with digital financial assets (CFA) in Russia was announced. Russian Railways acted as the issuer. The volume of output amounted to 15 billion rubles. The period of circulation of the CFA is 180 days. The rate is 8.45% per annum. The platform for the issue and redemption of the asset was the Masterchain platform.

Our company is actively introducing digital technologies. In this regard, the issue of the CFA is a natural step and at the same time a new experience for Russian Railways in using an alternative tool to attract working capital, "says Oleg Belozerov, Director General and Chairman of the Board of Russian Railways. - With a common similarity with other products of the traditional financial market, the use of CFA is distinguished by a high processability of the process and the speed of obtaining funding. In modern conditions, the role of these advantages becomes decisive.

Russian Railways held the largest issue of CFA in Russia - by 15 billion rubles

This placement of the CFA was the first on the Masterchain platform after its inclusion in the Central MasterChain register. Masterchain is preparing issues of the CFA at least 20 companies of various industries and scales, is working on schemes for working with investment and agency sites, and also provides future players with licenses for ready-made software of the information system operator, said in mid-June 2023, the company's general director Ivan Operchuk.

It is noted that taking into account the Russian Railways deal, the total volume of CFA emissions in the country exceeded 19 billion rubles, of which about 17 billion rubles were accounted for in 2023. At the same time, the authorities note that the development of the CFA market in Russia is slower than expected. The Ministry of Finance believes that it is difficult for the new product to compete with traditional financial instruments, and proposes to use citizens' cryptocurrencies to increase liquidity in the CFA market.^[1]

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