Russia remains a very unusual country when it comes to crypto assets. Following the launch of Atomyze, that situation may come to change in the near future.
Big was people’s surprise when Vladimir Potanin introduced his vision of Atomyze.
Atomyze Gains Central Bank Approval
It is a crypto token for metals, which has recently received approval by the Russian central bank.
Through this new platform, the objective is to speed up transactions and reduce paperwork associated with metals transactions.
Approval of this crypto token comes as somewhat of a surprise.
Considering how the local government still opposes Bitcoin to some degree, it seemed as if this industry would never gain traction.
Digital trading systems are direly needed for the commodities industry in the country.
Using ledger technology and tokenization makes a lot of sense in this regard.
Atomyze will be accessible outside of Russia as well.
Confirmed regions include Switzerland and the US, but the platform remains limited to companies rather than individuals.
If everything goes according to plan, the platform will launch by the end of 2020.
At that time, a new law on digital assets will allegedly be introduced in the country.
For now, there is no indication whether that new law will impact other crypto assets, such as Bitcoin.