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The Bank of Russia has officially registered tokenization service Atomyze as the country’s first digital asset management company, the central bank officially announced Thursday.

The central bank made the announcement after making sure that the rules of Atomyze’s information system and technical implementation are compliant with Russian law.

Following the announcement, Atomyze will be able to provide clients with an opportunity to issue digital financial assets on its platform and gain “new types of assets in the tokenized form.” The organization will be also enabled to “independently carry out exchange operations within its platform” as the rules of DFA exchange are “built into the information system rules.”

“In order to further develop the DFA, the Bank of Russia has formulated proposals for improving the regulation of such assets and their taxation, which will increase the attractiveness and applicability of digital financial instruments. In the near future, these proposals will be submitted for discussion in the form of a regulatory consultation report,” the central bank noted.

According to the company’s website, it is a Russia-based blockchain firm focused on “digitization of various assets and processes through distributed ledger technologies including, but not limited to DFA.”

Atomyze secures funding

Last year, Atomyze managed to secure funding from Russian conglomerate Interros. The conglomerate and investment firm was co-founded by billionaire Vladimir Potanin. The Russian businessman is the second-richest person in Russia with a net worth of $28.8 billion. He accumulated his wealth by buying a stake in the nickel and palladium mining company Norilsk Nickel in 1995.

“Atomyze became the first tokenization platform in Russia to receive a regulatory approval,” Interros wrote, adding that its ecosystem includes tokenization platforms not only in Russia but also in other jurisdictions, such as, in the United and Switzerland. The announcement also states the following:

“This will ensure Russia’s “digital equality” in the global digital economy, make it easier for Russian companies to enter world markets, and make it possible to attract more foreign capital to Russia.