Russia’s Central Depository to Launch Security Token Blockchain in June
Russia’s National Settlement Depository (NSD), which is part of the Moscow Exchange Group, plans to launch its long-awaited digital asset ledger next month.
The Moscow Exchange Group subsidiary chose Switzerland as the jurisdiction to incorporate D3ledger (Decentralized Digital Depository). Artem Duvanov, head of innovation and a director at NSD, said it picked Switzerland for its favorable regulatory environment and potential for market-making in digital assets.
Duvanov claims the project will be launched in June in Switzerland. Initially, D3 will allow tracking ownership of several assets, including security tokens representing unregistered shares in a small healthcare company; Sora cryptocurrency, developed by the Japanese company Soramitu; Bitcoin (BTC), Ethereum (ETH) and ERC-20-based tokens.
As it states, Bitcoins or Ethers will be frozen in the main blockchain via smart contracts with a multi-signature, and the corresponding tokens will be released on the D3 network. In the future, D3 intends to implement support for stablecoins, which will allow OTC transactions with cryptocurrencies and securities.
“We will include an established connection with some stablecoin, like Gemini coin or some coin backed by dollar or euro,” Duvanov said.