The Central Bank of Russia has officially added the "Saint Petersburg International Mercantile Exchange" (SPIMEX) to the registry of information system operators authorized to issue digital financial assets (DFAs). This is a landmark event: the exchange has received the right to independently issue digital instruments, bypassing intermediaries, and has become the sixth operator approved to operate this year.
The registry is growing at a record pace
This year is demonstrating unprecedented momentum: in less than a full period, the regulator has approved applications from five companies, and now a sixth has been added. Among the newcomers are VTB, which previously operated through the structure "VTB Capital-trading", UralSib Bank, "Sputnik DFA", Ozon Bank, and "Voltari". Such an influx of players indicates that interest in the format from financial organizations is not just persisting but steadily strengthening.
In total, the regulator's list now includes 25 participants. Alfa-Bank, Sberbank, T-Bank, PSB, Gazprombank, and NSD already control their own platforms. In essence, virtually all key players in the banking sector are mastering the infrastructure, which confirms the systemic nature of the process.
What is happening in the digital assets market
DFAs are digital analogues of securities that exist as records in a distributed ledger. They confirm an investor's rights to an asset, ensuring transparency and speed of transactions. The regulator is simultaneously strengthening participant protection: since October 1 of last year, issuers are required to disclose accounting reports, credit ratings, and contract details, and for credit DFAs — data on borrowers and delinquencies.
The market is also actively developing in terms of products. T-Bank recently placed DFAs with insurance protection worth 157.28 million rubles at 18.5% per annum, securing the instruments with insured accounts receivable — applications were collected ahead of schedule. The instrument is expanding beyond large corporations: the company "Rubrik-OD" conducted its first issuance of over 100 million rubles on the "DFA Hub" platform with support from Sovcombank.
The authorities are looking even further ahead. Instead of the term "stablecoin", the Central Bank proposes introducing the concept of "nominal DFAs" with guaranteed redemption, allowing issuance by licensed banks and structures under state control.
My view: The sixth operator in a year is not just a number, but a signal of market maturity. SPIMEX, as a commodity exchange, could become a bridge between traditional exchange-traded assets and digital instruments, which would enhance liquidity and attract institutional investors. However, the key test will remain the real volume of issuances and the secondary market — without this, the registry will remain merely a formality.