ST. PETERSBURG, June 7. /TASS/. Utility digital rights (UDR) and the tokenization of real assets will soon be able to restart existing payment instruments in Russia, Deputy CEO of PSB Bank Tatyana Naumlinskaya said at the St. Petersburg International Economic Forum (SPIEF).
At the same time, the appearance of the treasury of the future will be determined by the development of digital financial assets, new infrastructure for cross-border settlements, and the implementation of artificial intelligence, she noted.
"The new vector is UDR and the tokenization of real assets. In my opinion, this will restart payment instruments. Our area of development is to ensure that these are not pilot transactions, but full-fledged implementations," Naumlinskaya stressed. Regulation is likely to be updated as the requirements for issuers of digital financial assets are currently lower than for the issuance of traditional products, she said.
Naumlinskaya also noted the prospects for the development of the digital ruble, calling it the "third form of money."
"The joint task is to integrate the digital ruble into the payment landscape so that it is convenient, adds extra value to the clients, and is transparent and understandable," the senior banker said.
The high demand for cross-border payments in Russia is now high and the country needs to develop its tools in this sphere, she added.