Russia Explores Stablecoins for Settlements With Friendly Nations – Finance Bitcoin News

📆 07/09/2022 15:31:00
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Russian government prepares to use stablecoins in trade with “friendly countries.”

Russia is cooperating with friendly countries on the potential employment of stablecoins in international payments, a top government official unveiled. The news comes after key institutions in Moscow agreed that the Russian Federation needs to legalize cross-border crypto payments in the face of sanctions.

The high-ranking government official further elaborated that the “stablecoins can be pegged to some generally recognized instrument, for example, gold, the value of which is clear and observable for all participants.” Moscow has been dealing with mounting Western sanctions and restrictions imposed over its decision to invade neighboring Ukraine that have severely limited its access to the global financial system. Proposals to use cryptocurrencies or stablecoins in foreign trade have been gaining support among top Russian officials and regulators.

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Will they use USDT or some alternative options like GBPT?

Not going to make something decent, too much corruption in the country

countries adopting crypto is imminent at this point, especially with the likes of BitDAO accelerating worldwide adoption by funding entities like AfricaDAO that aims to drive-up Web3 adoption in African countries