The PSB talked about the development of a set of solutions for international settlements

PSB develops a diversified range of cross-border payment solutions for retail and corporate clients. This was stated by Olga Myamlina, Deputy Chairman of the PSB, speaking at the session "Tokenization of the financial market: a look into the future" at the Eastern Economic Forum.

Such solutions include making payments using a foreign digital right (PPI) through the Tokeon platform infrastructure (part of the PSB group), as well as paying for foreign purchases and services using an international electronic card.

"At the moment, the Tokeon platform is in the process of working out access to foreign digital law in its information system, which Russian importers and exporters will subsequently be able to use as a means of payment under foreign trade agreements. I am sure this will give Russian economic participants more opportunities for cross—border settlements," Myamlina said.

The PSB explained that foreign digital rights are a legitimate tool, the use of which will ensure the continuity of foreign economic activity, reduce transaction costs, and increase the transparency of settlements.

Speaking about the prospects for the development of the tokenization market, Myamlina stressed that the main focus will be the issue of hybrid digital rights (PPP), which combine digital financial assets and utilitarian digital rights. "For businesses, the tool is an alternative source of replenishment of working capital. Issuers can issue PPP for products that are still in the production stage, thereby guaranteeing their future sale. Hybrid digital rights provide private investors with the opportunity to support profitable, promising projects or receive goods and services at a lower price than when purchasing them directly. However, in order to further actively develop the tokenization market for non—financial assets, it is necessary to cancel the advance payment of VAT in hybrid digital rights issues," the Deputy chairman of the PSB added.