Russia debuts cross-border payments in Tether stablecoin
In addition to Tether, the legal entities transacting through the Exved system can also use the U.S. dollar and the offshore ruble.
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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Author: Helen Partz
