Just recently, the top exchange from Russia has made an announcement in regards to the adoption of digital assets.
Moscow Exchange (MOEX) Supports DFAs
The Moscow Exchange has made an announcement that is in support of cryptocurrencies and digital assets. The exchange has announced that it will be adopting and offering digital financial assets (DFAs).
According to the Moscow Exchange, they are planning to introduce digital financial assets by the end of 2022. It is in their planning to introduce a product that will be based on the DFAs.
This information has been shared by one of the most senior executives at the Moscow Exchange.
Russia is planning to get back on Track
The Russian stock markets have recorded a very turbulent and uncertain trend for a while. The Russian markets have been in a state of turmoil and the situation has not recovered much.
For the record, the Russian markets have continued facing cyberattacks, sanction pressure, and market volatility. The decision has been made by the Russian exchange to deal with the downfall of the current year.
Digital Financial Assets
The term Digital Financial Assets has been assigned to the digital assets that have legal status in Russia. The DFA is the legal term for the authorized and lawfully permitted digital assets in Russia. The digital assets also include cryptocurrencies.
Andrey Burilov, Information Technology’s Managing Director and Moscow Exchange’s Member of the Board talked about the offering of digital tokens.
Burilov stated that MOEX is currently working with one of its partners to introduce digital tokens to the clients through the exchange.
The purpose behind Launching Digital Assets
According to Burilov, they are already providing their investors and clients with the ability to trade in fixed assets.
Now, their mission is to provide their clients with assets that offer high volatility. The users will be able to benefit from trading in digital technologies.
This would provide users the ability to interact and gain exposure to digital technologies.
Uncertainties Regarding Digital Assets
Ever since cryptocurrencies have been introduced within the mainstream sector, their existence has been uncertain.
Despite being older than 10 years, the cryptocurrency sector is still very recent compared to the rest of the trading instruments such as commodities, stocks, indices, and even forex.
This is the reason why investors find it unsafe to invest in cryptocurrencies. Above all, investors avoid investing in cryptocurrencies because they are unregulated, and thus, unsafe to deal with.
Now, as the major Moscow Exchange is to adopt and offer digital assets and cryptocurrencies, it is eventually going to attract investors who were once hesitant in doing so.