Astana International Financial Centre and Rosgeology signed a Memorandum of Cooperation

The Astana International Financial Centre (AIFC) and JSC Rosgeology at the site of the World Economic Forum in Davos, in order to attract alternative sources of financing for geological exploration, signed a Memorandum of Cooperation on the creation of a digital platform based on the AIFC.

“The AIFC regulatory regime allows regulating the use of new financial instruments, including for attracting investments and asset tokenization through blockchain technology. Cooperation with Rosgeology is a vivid example of the use of fintech solutions, including by large non-financial organizations” – said AIFC Governor Kairat Kelimbetov.

 “The Republic of Kazakhstan is one of the few countries in the world where there are regulatory standards based on the AIFC, adapted for active work in the cryptoeconomics,” said the head of Rosgeology Sergey Gorkov. “We are pleased to join forces with the AIFC to develop a digital platform for the early financing of junior companies, designed to become an innovative tool for attracting private investment in exploration.”

The digital platform will be implemented using modern blockchain technologies with tokenized assets and digital means of supporting liquidity and crypto protection. 

Reference:

The Astana International Financial Centre (AIFC) was created on the initiative of the First President of the Republic of Kazakhstan, Nursultan Nazarbayev. The constitutional law on the establishment of the AIFC was signed on December 7, 2015. AIFC’s goal is to form a leading center of financial services at the international level. AIFC objectives are to assist in attracting investment in the country’s economy, create an attractive environment for investing in financial services, develop the securities market of the Republic of Kazakhstan and ensure its integration with international capital markets.

Rosgeology is a Russian multidisciplinary geological holding company that provides a full range of services related to geological exploration: from regional studies to parametric drilling and monitoring of the subsoil. The holding has unique competencies, including in the field of marine geology and offshore operations. Holding enterprises have discovered more than 1000 deposits, among which are the largest deposits of hydrocarbons and solid minerals. 100% of shares of Rosgeology JSC are owned by the state.