Media

The Polymetallic Holding Group Seligdar (MOEX: SELG) has issued the first hybrid digital financial asset (DFA) by a gold mining company on the Russian market, granting the investor the right to receive gold bullion.

The issue was conducted on the A-Token platform. Investor Bank MFK participated in the transaction. The deal amounted to 10 kg of gold, equivalent to 99.6 million Russian roubles.

Aleksandr Khrushch, President of Seligdar PJSC:

"The new hybrid issue clearly demonstrates the evolution of digital financial instruments in the Russian market. We began developing this business just one year ago and have come a long way since then. The advantages of the new product include simplicity, speed of issuance, and the ability to use physical gold."

Nikolay Yevtikhiev, Deputy Chair of the Management Board of Bank MFK:

"Through the purchase of a hybrid gold-linked DFA, the Bank gained the opportunity to acquire gold bullion directly from the gold mining company Seligdar PJSC, which will allow us to offer them to our clients at a competitive price."

Denis Dodon, Director of Innovation at Alfa-Bank JSC:

"We have continued our strategic partnership with Seligdar and launched the first B2B issue of hybrid digital rights for the delivery of gold bullion on the market. Previously, we had already successfully implemented a non-deliverable gold-linked DFA with the company, and now we have taken the next step – offering the market a more sophisticated and flexible instrument."

Earlier issues of Seligdar's DFAs were recognised with the Cbonds DFA Award for "Best Non-Deliverable DFA Linked to Precious Metals", and were also honoured with the National Award in the field of digital financial assets, the "DFA Award", in the "Debut of the Year" nomination.