According to a report by the Russian media "Kommersant" citing people familiar with the matter, Russia may plan to create two cryptocurrency exchanges to support foreign economic activities. The two exchanges will operate in Moscow and St. Petersburg respectively.
People familiar with the matter explained that the main focus of these exchanges is related to the creation of stablecoins, which the Russian government is said to be considering developing stablecoins pegged to the Chinese yuan and a basket of BRICS currencies.
At least two exchanges are planning to set up in the Russian Federation, and one plan is to use the infrastructure of the St. Petersburg Currency Exchange (SPVB) for foreign trade, according to people familiar with the matter. However, the SPVB has issued an announcement saying that this news is not true. The approved development strategy focuses on developing its own products and services in the currency and stock markets and does not mean providing any cryptocurrency-related services.
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