Nikolas Sargeant
Gazprom, Russia's majority state-owned oil and gas behemoth, has officially entered the blockchain arena with the launch of tradable "digital financial assets" (DFAs). This strategic move positions the energy giant alongside commercial banks in Russia's rapidly expanding DFAs sector, signaling that energy industry leaders are embracing blockchain technology.
Gazprom's Digital Financial Assets Offering
According to Russian media outlet RBC, Gazprombank is issuing DFAs worth 2 billion rubles (approximately $23.5 million) on March 31. These blockchain-powered tokens promise an impressive 21% annual yield and will be offered through the Moscow Exchange's specialized DFA platform.
Gazprombank describes the assets as "tokenized monetary claims on the issuer," with plans to release 2 million tokens valued at 1,000 rubles (about $11.77) each. The tokens will mature on May 13, 2025, when they will be burned in exchange for 1024.74 rubles ($12.06) per token.
Notably, regulatory documents indicate these DFAs "meet the characteristics of digital financial assets that can be acquired by non-qualified investors," making them accessible to retail buyers—a feature not common among many DFAs, which are typically restricted to corporate and professional investors.
Major Russian Corporations Embracing Digital Assets
Gazprom's DFA launch follows closely behind a similar initiative from Rostelecom, another majority state-owned Russian enterprise. As Russia's largest telecommunications provider, Rostelecom released two of its own DFAs on the Moscow Exchange earlier this month.
The Central Bank of Russia governs the DFA market by issuing operating permits to "information system operators" (ISOs). Among the pioneers in this space is Atomyze, a Hyperledger Fabric-based distributed ledger technology platform connected to metals producer Norilsk Nickel.
Rapid Growth in Russia's Digital Financial Market
In February, Sberbank published findings showing the cumulative trading volume of Russia's DFA market has reached 684 billion rubles (roughly $8 billion). Earlier this month, Sberbank also launched an index-type DFA tracking global cocoa prices.
Gazprom's blockchain ambitions extend beyond financial assets. Last year, the company announced a cryptocurrency mining subsidiary, reportedly developing a 5,000-rig mining center in Veliky Novgorod. Industry sources suggest this facility will reach full capacity by 2028, with Gazprom allegedly planning to invest approximately $500 million in its cryptocurrency mining ventures.
