The Central Bank of Russia turned from askin ban on crypto assets to approving the Atomyze blockchain.
Recent successful measures of Atomyze may result in boosting Russian blockchain and crypto innovations. On Monday, 18th July, Atomyze–Russian blockchain firm–launched its own digital token. This newly launched Russian digital asset will have backing of overall production of palladium by a major mining and metallurgical firm–Nornickel.
The instance of Atomyze getting approval from the Central Bank of Russia could be seen as a surprise in itself. The bank was indulged in consistent criticism of crypto assets and even demanded a blanket ban on cryptocurrencies in Russia, along with their respective operations. Yet Atomyze became the first firm in Russia to get approval from the Russian central bank to exchange digital assets.
Vladimir Potanin–one of the Russian Oligarchs and largest shareholder in Nornickel– praised the efforts of bringing digital tokens. Potanin said that the development of the first digital token in Russia for industrial use would be seen as the Russian economy moving into a new era of tokenization.
Russian Oligarch, who’s also an investor in Atomyze blockchain, also added that industrial and other digital tokens are not like unsecured cryptocurrencies. Generally cryptocurrencies use blockchain technology to maintain their users anonymity. Meanwhile industrial digital tokens are more secured assets as they have backing of physical assets. On top of that, using blockchain technology makes them more secure to use for transactions across the network, he added.
One of the Russian banks–Rosebank– and a broker firm Vector X were among the initial investors of the Russian blockchain platform. In February, 2022, the Russian Central bank granted Atomyze Russia an approval for licensing and exchanging digital assets.
Atomyze blockchain leverages blockchain technology to tokenize real and worthy assets. This approach allows retail investors to make direct purchases of precious metals while also helping legal entities to keep eye on large volumes of those purchased metals.
Source: https://www.thecoinrepublic.com/2022/07/19/russian-blockchain-atomyze-launched-palladium-backed-digital-asset/