Interros Joins other partners investing in Atomyze blockchain platform in Russia

Karthik Subramanian

A large investment group started by Russian Vladimir Potanin over 30 years ago, Interros, has become one of the members of the group of investors for the blockchain platform, Atomyze.

Russia

This was informed by Sergei Batekhin, CEO and Head of the Management Board of Interros, in a discussion on digital assets at the Internation Economic forum in St. Petersburg.

This is another example of growing interest in cryptos in Russia though the Russian Central Bank chose to shut down the Russian operations of a few crypto exchanges recently. But considering that the digital assets are getting such major attention among large investors in Russia, it could only be a matter of time before the Central Bank comes up with a policy for regulating and licensing crypto entities.

“To establish our own platforms for tokenization means to ensure a full-fledged infrastructure for the digital economy, which is important from the point of view of ensuring digital equality of Russia with the world’s largest economies,” said Sergei Batekhin.

Atomyze is a digital marketplace that seeks to tokenize real-world assets, products, and services like real estate, commodities, and others so that it can be accessible to investors, both big and small. The first issuer on the platform was a company called Nor Nickel which is one of the largest producers of palladium and nickel and they had issued tokens last year that involved metal contracts to its major industrial partners Traxys SA and Umicore SA.

The blockchain platform is currently waiting for its license to be approved by the Central Bank of Russia. It remains to be seen how long the bank will take to approve such blockchain-related licenses and what kind of regulations will be imposed on such platforms. The investors into this platform and the industry, in general, are keen that the bank should pass the approvals quickly and also make it clear on what can and cannot be done as clarity would help the blockchain industry to grow.

Russia is known for its fintech strength and the quality of its resources and this should make Russia a hotspot for blockchain development in the near future. But for this, proper guidance and clarity are required from the regulators and the sooner it comes, the better it would be for this industry in Russia as the investors and the innovators in this field wouldn’t want to be left behind.

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