Astra Raises $6.6M Through Digital Financial Assets in First for Russian IT Sector
Russian software developer Gruppa Astra (Astra Group) has entered the digital debt market with its first issuance of DFA (digital financial assets), becoming one of the first major IT companies in the country to use the instrument as an alternative to traditional bank financing.
Through the A-Token platform operated by Alfa-Bank, the company is issuing 500 million rubles (about $6.6 million) worth of digital financial assets with a 14.5% annual yield and a nine-month maturity period. The face value of one asset is 1,000 rubles (about $13). Astra said the proceeds will be used to support current operating activities.
An IT Issuer Enters the Digital Asset Market
Company management says the borrowing is tied to the seasonal nature of the business. Most revenue arrives toward the end of the year, while expenses are spread more evenly across monthly operations. Previously, Astra relied on short-term bank loans to bridge that gap. Now the company is moving into digital debt instruments as part of a broader effort to diversify funding sources. Astra maintains a high credit rating and a relatively low debt burden. Its revenue exceeded 20 billion rubles (about $263 million) in 2025, including 6 billion rubles (about $79 million) in net profit. The company’s shares are listed in the innovation and investment segment of the Moscow Exchange.
The relatively low entry price of Astra’s digital assets, combined with monthly interest payouts and the company’s strong financial performance, could make the offering attractive to investors, including retail buyers.
Looking Beyond the Domestic Market
For Astra itself, the working capital raised through the digital debt instrument could help the company maintain the planned pace of software development and certification while continuing to expand its product lineup.
Indirectly, the move could also support international expansion. Astra has already announced plans to enter foreign markets and has signed agreements in Myanmar and Uzbekistan. Additional financing may be directed toward partnership programs abroad. In that sense, Russia’s push for technological sovereignty is increasingly developing alongside the expansion of its digital financial infrastructure.
From Pilot Projects to Billion-Ruble Issuances
The legal framework governing DFA circulation in Russia was established by Federal Law No. 259-FZ, which came into force in 2021. The first major digital asset issuances followed in 2022, including a 1 billion ruble (about $13 million) transaction involving SberFaktoring. Nornickel also launched a pilot issuance on the Atomayz blockchain platform, demonstrating that DFA instruments could be used beyond the banking sector.
The number of DFA issuers expanded significantly in 2023 and 2024, along with issuance volumes. Rostelekom, for example, placed a 1 billion ruble (about $13 million) issuance, while Wildberries launched a 3 billion ruble (about $39 million) placement.
Last year, according to Russia’s Central Bank, total DFA placements reached 1.65 trillion rubles (about $21.7 billion), with 98% of issuances tied to debt instruments. The number of authorized information-system operators allowed to issue digital financial assets has grown to 19.
Digital Debt as a New IT Financing Tool
Digital capital-market instruments are increasingly emerging as a more flexible alternative to short-term bank lending, giving companies access to comparatively cheaper financing to smooth seasonal revenue fluctuations or fund pilot projects. That means both public and large private companies are likely to use DFA instruments more frequently as a source of short- and medium-term financing. The mechanism could eventually occupy a middle ground between a credit line and a bond issuance.
Until now, DFA products were mostly associated with banks, retail chains, and industrial firms. Astra’s move, however, demonstrates how the model can also work for software developers. Over time, similar practices could spread across Russia’s IT sector as software and fintech become increasingly intertwined inside the country’s regulated digital economy.
