Russia debuts cross-border payments in Tether stablecoin

Russian crypto payment platform Exved officially announced its launch and said it gained Bank of Russia approval to offer cross-border digital currency settlements last year.

One of the first cross-border payment platforms in Russia has officially announced its launch and says it will be facilitating local legal entities to process international settlements in cryptocurrency.

Exved, a local digital settlement platform — which describes itself as a “digital counterparty search system” — announced the launch on Dec. 7, stating that Russian importers and exporters can now use its business-to-business (B2B) solution to simplify the process of “foreign exchange operations and foreign economic activity.”

The Exved platform specifically allows one to proceed with cross-border transactions using Tether (USDT) stablecoin alongside the offshore ruble and the U.S. dollar, the announcement reads.

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