The Russian government plans to use cryptocurrency to pay Asian companies

We are talking about stablecoins, of course.

The initiative of domestic businesses for mutual settlements using cryptocurrencies in international trade is finding support at the intersection of liberal financial reforms in Russia and the Asian market. Signals given by the Bank of Russia and the government indicate the possibility of using digital currencies, in particular stablecoins, in export-import transactions.

Chairman of the State Duma Financial Market Committee Anatoly Aksakov emphasized the prospects and feasibility of such instruments in international circulation. Sergey Katyrin, manager of the Chamber of Commerce and Industry, also spoke positively about the prospects for settlements in cryptocurrency with foreign partners, this is especially true for interaction with Asian companies.

As it turned out, Asian suppliers, including the Chinese side, are open to such payments, which can facilitate trade transactions taking into account the current sanctions. However, while remaining concerned about the possible impact on their reputation and the risk of falling under American restrictions, they see cryptocurrencies as a safe payment instrument that protects them as much as possible from undesirable consequences.

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