Gold-Based Digital Assets Issued in Russia

A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first. Russia’s Sber Bank Mints Gold-Backed Coins Sber, Russia’s largest bank, has reported issuing gold-based digital financial assets (DFAs) on its proprietary blockchain. The coins were minted for Solfer, a holding specialized in the processing and trading of metals and making products from precious metals. The Russian law “On Digital Financial Assets,” which entered into force