A Russian state-owned fund plans to allow investors to acquire stakes in Siberian natural resources — think forests, natural gas and gold — by purchasing digital tokens, the Financial Times reports.
The fund will test the plan this month by selling tokens backed by Siberian diamonds.
Russia’s far eastern region has several trillion dollars’ worth of natural resources it can link to tokens, says the Far East Development Fund, an investment unit of Russian state development bank Vnesheconombank.
Some observers say asset-backed tokens such as the ones the fund is planning to issue are risky because they require an outside party to confirm the digital token is in fact backed by a real asset, the FT reports. Read more here.