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With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these transactions. Cross-Border Crypto Settlements on the Rise in Russia as US Dollar and Euro Payments … Read more
FTX token surged over 7% on the news that Sam Bankman-Friend’s company, FTX would roll out a debit card in partnership with payments giant Visa. Go to Source Powered by WPeMatico
“The seamless payments infrastructure and user experience derived from Web2 will be the backbone of Web3’s success,” said Max Rothman. Go to Source Powered by WPeMatico
In a statement on Thursday regulators in the European Union banned all crypto-asset wallets, accounts or custody services from Russia. Go to Source Powered by WPeMatico
Are TradFi and DeFi converging, moving toward a middle ground that includes tokenized assets, interoperability and regulation? Go to Source Powered by WPeMatico
The DEX aggregator said the partnership would promote wider adoption of DeFi and Web3 products and services. Go to Source Powered by WPeMatico
Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets. Russian Banks to Record Digital Currencies as Assets in Their Accounting … Read more
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital … Read more
Bitcoin looks suitable for Russia’s crypto cross-border payments at first glance, but there are many reasons why such a choice is highly questionable. Go to Source Powered by WPeMatico
The Project Icebreaker initiative aimed to improve cross-border payments by reducing costs and increasing speed and transparency, with a final report expected in Q1 2023. Go to Source Powered by WPeMatico
