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Moscow Exchange will launch the Decentralized Digital Depository

The Russian non-bank credit organization, the central depository of Russia National Settlement Depository, which is part of the Moscow Exchange Group, will launch the D3 project (Decentralized Digital Depository) next month. But it will not launch in Russia.

According to Arthur Duvanov, NSD Innovation Director, the project will be launched not in Russia, but in Switzerland.

Initially, D3 will allow you to track ownership of several assets: security tokens representing unregistered shares in a small health care company; Cryptocurrency Sora, developed by Japanese technology company Soramitu; Bitcoin, Ethereum and ERC20 tokens.

In the case of cryptocurrencies on the D3 platform, the registration will not be made of the asset itself, but of the depositary notification. With this approach, bitcoins or Ethereum will be frozen in the main blockchain using smart contracts with a multi-signature, and the corresponding tokens will be released on the D3 network.

In the future, D3 is planning to implement support for one of the trusted steablecoins, which will allow for over-the-counter transactions with cryptocurrencies and securities. As one of the options under consideration, Duvanov mentioned the Gemini Dollar.

In February, it became aware of the desire of NSD and other central depositories of the world to explore the possibilities of storing digital assets based on a single infrastructure.


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