Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this will be addressed soon. Russian State Duma Official Bets on National […]
Several major financial firms are collaborating to test the benefits of shared-ledger technology for jointly settling tokenized assets like commercial bank money and various securities. The initiative, known as the Regulated Settlement Network, is a proof-of-concept designed to expedite and secure cross-border transactions using a singular system for tokenized assets. This trial is an extension […]
PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC […]
Russian Deputy Foreign Minister Sergey Ryabkov revealed that the BRICS bloc has been considering the use of stablecoins for its common rail payment systems. In an interview with TV BRICS, Ryabkov stated that the use of stablecoins and a connection linking the CBDCs of the participants were studied as part of the integration processes of […]
The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast, payments with national digital assets will be launched without similar precautions. Bank of […]