Digital financial assets – a new vector of financial instruments development

the article examines the essence of digital financial assets as a financial instrument and their characteristics, as well as their role in the modern financial system and development prospects. The author investigates approaches to understanding digital financial assets and proposes an original definition of the concept. Based on the analysis of essential characteristics, the advantages of digital financial assets as a tool for raising capital were identified in comparison with the traditional banking credit market and bond issuance. A specific type of digital financial assets, such as the right to monetary claims, was studied. Using an analysis of bond issuance costs and the fees of information system operators, a comparative table is presented, demonstrating the economic benefits for issuers of digital financial assets. The analysis of the advantages of digital financial assets made it possible to outline the development prospects for this segment of the financial market, as well as to identify constraining factors that currently exist and require attention from regulators, legislative authorities, and market participants. The results of the study can be used for further exploration of digital financial assets as a new representation form of traditional assets.

digital financial assets, digital currencies, tokens, digital rights, financial market, blockchain