Sibsteklo Redeemed the Debut Issue of Digital Financial Assets

Dear colleagues, we are publishing news about the member of the Association "StekloSouz" of Russia, LLC "Sibirskoye Steklo" (Sibsteklo):

LLC Sibirskoye Steklo (Sibsteklo, one of the largest glass container manufacturers in Russia, an asset of RATM Holding) has redeemed the first issue of digital financial assets (DFA) in the amount of 100 million rubles.

As a reminder, DFA were placed on the Alfa-Bank A-Token platform for a period of 6 months at 19.5% per annum. The funds raised were used to increase the purchase of glass waste - the use of recyclable materials reduces the energy intensity of production processes, and, as a result, the industrial burden on the environment. Sibsteklo also supported the sustainability of supply chains: it halved the transport footprint when transporting mineral resources by reorienting itself to cooperation with mining companies from Siberian regions.

- The DFA market is still being formed, the legal framework is being improved; Information system operators are developing their own platforms for transactions based on blockchain technologies and smart contracts, creating and testing new products themselves as issuers, placing issues for short periods, which stimulates the influx of new investors, - comments Ekaterina Nesterenko, Director of Finance at Sibsteklo. - Interest in asset tokenization is gradually growing from the industrial sector, allowing enterprises to quickly and easily replenish working capital to solve operational problems. In addition, for companies leading in their industries, presence on various trading platforms allows them to form a public debt history for entering an IPO.