Regarding the bitcoin market, Russia is moving forward. In order to enable investors to conduct transactions with digital assets based on precious metals, Atomyze, a platform that specializes in the tokenization of commodities, has signed a contract with Rosbank. The partnership primarily relates to palladium.
The alliance between Atomyze and Rosbank has lofty goals.
Due to its use as a platinum alternative in jewelry, palladium is currently thought to be a very attractive investment in Russia. Additionally, every year the demand for palladium increases on a global scale. Finally, a lot of high-tech devices are made with this precious metal. Russia wants to make advantage of it by incorporating it into the cryptocurrency world for all these reasons. Atomyze Russia and Rosbank struck a contract for this reason as well.
The tokenization of raw materials is the goal of the partnership between Atomyze and Rosbank, which is a first in Russia, according to billionaire Vladimir Potanin. He even went a step farther and said that the Russian economy is entering a new age. The billionaire stated emphatically that this is the “period of tokenization.” He also expressed his desire for cryptocurrencies to succeed in displacing fiat money, like as the ruble.
There are others who anticipate significant developments in the Russian bitcoin sector besides Mr. Potanin. Additionally, Atomyze Russia’s general manager shared her preferences. She asserts that the new partnership “is only the start of a wonderful tale that will be built on two fundamental parts: the conventional elements that already exist (1) and the creation of new products (2) for the benefit of investors.”
Keep in mind that there are currently no formal rules governing how the bitcoin industry operates in Russia. For good reason, the government is much more concerned with the conflict in Ukraine than with the realities of the market for digital assets. Despite the fact that the bulk of official institutions continue to resist it, the nation does appear to be getting closer to opening up to this market.
Russia aims to integrate precious metals into the world of cryptocurrencies. Palladium, a precious metal utilized in the creation of high-tech devices, is what initially opens the ball. In the coming days, Atomyze Russia will tokenize it alongside Rosbank.
Source : Bitcoin.com
