RUSSIA TO TEST CRYPTO PAYMENTS FOR INTERNATIONAL TRADE

Russia is about to kick off trials on September 1, 2024, to use cryptocurrency for cross-border transactions, potentially sidestepping U.S. sanctions.

The move, part of BRICS' de-dollarization push, will see Russia’s ruble converted to cryptocurrency using its National Payment Card System.

Finance Minister Anton Siluanov also revealed plans for two state-run crypto exchanges to facilitate these international payments.