Lighthouse (a FinTech company) and VTB Factoring have completed the first deal in Russia to place digital financial assets (DFA). As part of the transaction, the issuer’s commercial debt was tokenized on the platform, and after that VTB Factoring bought out the issued DFA.

“The issue of DFAs can be compared to the issue of short-term commercial bonds, where financial claims serve as collateral. But unlike the traditional instrument, full digitalization of the process allows to reduce the number of procedures and the number of participants in the transaction, which has a positive effect on the cost of emission for the company,” Denis Iordanidi, CEO of Lighthouse, said.

In the middle of June, it was also announced that the first deal involving DFA on the Sber’s platform could take place within a month.

Original in Russian