An institute facilitating Russian exports is now working on the establishment of a sandbox for international crypto payments, local media reported. The goal is to identify potential regulatory and technological challenges for settlements with digital assets.
Russia Prepares to Test Crypto Payments for Exports in Dedicated Sandbox
The Russian Export Center (REC), which is a state-run institute tasked to support Russia’s exports, is now considering the employment of digital currencies as an alternative approach to international settlements under sanctions.
The organization believes that setting up a “cross-border digital sandbox” is a promising initiative. The project will aim to create opportunities for fintech companies to process payments using digital financial instruments on behalf of Russian exporters and importers.
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