Sber announced the completion of the first transaction for issue of digital financial assets for SberFactoring on its own blockchain platform. The issuer’s obligations are secured by receivables transferred to factoring services. The digital financial assets are issued using the smart contract - an algorithm that controls compliance with the conditions laid down in the decision on issuance of DFAs including the amount, term and yield of the issue. The platform is currently operating in pilot mode.

At the end of June, the first DFA transaction in Russia was carried out by the Lighthouse fintech company and VTB Factoring. As part of the transaction, the issuer’s commercial debt was tokenized, and after that VTB Factoring fully bought out the issued DFAs.

Original in Russian