Russia is set to launch trials on cryptocurrency exchanges and digital token usage for cross-border transactions starting September 1.
This move aims to alleviate payment difficulties faced by local companies due to international sanctions. The trials will focus on swapping between rubles and cryptocurrencies, offering a potential lifeline to companies struggling with cross-border payments.
This initiative represents a shift from the central bank’s previous position of banning digital assets. The government is closely monitoring the trials, with the National Payment Card System (NPCS) selected for the tests. If successful, this could pave the way for the launch of official cryptocurrency platforms in the near future.