In June, the Russian National Settlement Depository (NSD) will launch the D3 blockchain platform for storing and using digital assets. It is reported by CoinDesk.
A subsidiary of the Moscow Stock Exchange chose Switzerland as the jurisdiction for launching the site, focusing on a favorable regulatory environment and the potential for the development of a cryptocurrency market.
In terms of laws, [Switzerland] allows the tokenization of at least some kind of securities. That’s the first thing. And it’s favorable for such things because there is market demand.
Head of Innovation/Director at NSD
Platform D3 will provide secure, decentralized storage of several types of digital assets:
- security tokens representing unregistered shares in a small medical company;
- cryptocurrency Sora, developed by the Japanese technology provider Soramitu;
- Bitcoin and Ethereum;
- ERC-20 standard tokens.
At the same time, Bitcoin and Ethereum will be stored on the D3 platform as depositary bills. With this approach, the cryptocurrency is frozen in the main blockchain using smart contracts with a multi-signature, and the D3 network releases the corresponding tokens.
All operations at D3 will be carried out using the Hyperledger Iroha framework, created by Soramitsu in partnership with the Hyperledger consortium.
According to Duvanov, the next step will be addition of realiable stablecoin to launch over-the-counter transactions without risks for the counterparty. Among others, the possibility of using the Gemini Dollar is being considered.