Gazprom, the majority state-owned Russian energy giant, has entered the growing market of digital financial assets (DFAs). The launch includes blockchain-powered DFAs, worth 2 billion rubles (around$23.5 million).

The tokens, issued by Gazprombank via the Moscow Exchange's DFA platform, offer an annual yield of 21%. There are 2 million tokens in circulation, each worth 1,000 rubles ($11.77). They will mature in May 2025, exchanging for a fiat sum of 1024.74 rubles ($12.06).

Interestingly, these DFAs are open to non-qualified investors, allowing retail buyers to trade them. It is a rare feature in the DFA market, as many tokens are restricted to corporate or professional investors.

Gazprom's move highlights the growing interest in digital assets within Russia's energy sector. It joins other Russian giants such as Rostelecom, which recently launched its own DFAs.

The expansion of Russia's DFA market is evident, with Sberbank reporting a cumulative trading volume of 684 billion rubles ($8 billion) in February. Gazprom is also investing heavily in the crypto space, with a subsidiary focused on crypto mining.

The company is building a mining centre in Veliky Novgorod, planning to invest around$500 million by 2028.

For more information on these topics, visit diplomacy.edu.