Central Bank of Russia: Hopes to use tokenization solutions to allow foreign investors to purchase stocks of domestic companies in Russia.

According to a report by RBC on October 13, Deep Tide TechFlow news states that the Central Bank of Russia hopes to use tokenization solutions to allow foreign investors to purchase shares of domestic companies in Russia.

Vladimir Chistyukhin, the First Deputy Governor of the Central Bank of Russia, stated at a financial forum that tokenization is a “possible option,” but it requires technical and platform solutions from overseas partners. He pointed out that foreign entities need to be responsible for the tokenization of Russian assets and for buying and selling them abroad.

Previously, the chairman of the supervisory board of the Moscow Exchange, Sergei Shvetsov, made a similar suggestion at the end of September, stating that overseas investors want to purchase Russian stocks, and tokenization does not rely on “sanctioned infrastructure”, which can serve as a solution to circumvent sanctions.

Officials from the Russian banking group Sovcombank expressed support for the plan, believing that tokenization could become a suitable tool for investors from BRICS countries or “friendly countries” such as the UAE, Kazakhstan, and Armenia. Alexey Korolenko, Executive Director of Cifra Markets, believes the idea is “completely feasible” but warns that it is necessary to ensure the reliability requirements of the entire ownership and tokenization chain.