The market of platform services, including investment and financial platforms and information systems where digital financial assets (DFAs) are issued, is becoming increasingly attractive to investors, especially given rising interest rates. The overall amount of transactions exceeded ₽282 billion as of the end of 2023 and 2024 Q1.
The DFA market launched in 2023 demonstrated record high growth rates, raising ₽88.7 billion by the end of 2024 Q1. These were predominantly monetary claims with maturities of up to six months for the most part. They accounted for over 80% of the total DFA issue.
Microlending was most popular in the crowdfunding segment, enabling businesses to raise ₽44.5 billion from investors over the said period. By issuing securities, companies raised ₽8.3 billion. Investors purchasing securities at the pre-IPO stage expect companies to quickly grow and, accordingly, bring high returns.
Over 2024 Q1, the amount of transactions on financial platforms surged seven times year-on-year, reaching nearly ₽149 billion, while the number of clients increased 11 times. There are already almost two million clients registered on financial marketplaces. Bank deposits are currently the most demanded product as banks generally offer more attractive deposit terms on such platforms.
The dynamics of platform services were largely associated with the low base effect. Their further growth will require innovative solutions and enhancement of regulation and accessibility of services.
More details are available in the new issue of Overview of Platform Services in Russia.
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