According to Odaily, Sergey Glazyev, the Minister of Integration and Macroeconomics at the Eurasian Economic Commission, announced on Monday that the Eurasian Economic Union (EEU) is further promoting settlements in local currencies. Additionally, the EEU is considering the establishment of a new payment settlement system, which may utilize digital currencies for transactions.
The EEU, a political and economic union of states located in central and northern Eurasia, is actively exploring innovative financial solutions. The potential use of digital currencies in their payment settlement system signifies a significant shift towards embracing digital transformation in the financial sector.
This move aligns with the global trend of digitalization in the financial industry, as more and more institutions are recognizing the potential benefits of digital currencies. However, the specifics of the proposed digital currency system within the EEU are yet to be disclosed.