Russia's Central Bank encourages companies to use cryptocurrencies for trade settlements

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Cointime2024/07/05 00:37

By:Cointime

The Russian central bank has advised businesses to use multiple options including cryptocurrencies and other digital assets to promote trade with foreign partners and counter sanctions imposed by the West. Elvira Nabiullina, the head of the Russian central bank, spoke at a financial conference in St. Petersburg and pointed out that payment issues are one of the main challenges facing the Russian economy. New financial technologies have created opportunities for previously non-existent plans, which is why we have softened our stance on the use of cryptocurrencies in international payments and allowed the use of digital assets in such payments. She added that people are discussing different alternative options. Businesses are becoming very flexible and enterprising. They will find solutions to problems and often do not share them with us.

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