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Russia to Trial Digital Asset Settlements in Foreign Trade

[Jun 16, 2023 11:30 PM] Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while…

Bank of Russia Expects Significant Growth in Digital Assets Market

[May 20, 2023 4:30 AM] The Central Bank of Russia predicts an increase in the issuance of digital assets, citing some of their advantages. The monetary authority has published a report presenting the progress made by the growing industry and assessing the prospects for…

Digital Assets for 1 Billion Rubles Issued in Russia in a Month

[May 7, 2023 3:30 AM] Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments…

Bank of Russia Registers Another Digital Asset Issuer

[Mar 12, 2023 11:30 PM] The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize…

Digital Gold Traded for Digital Rubles by Russia’s Rosbank

[Feb 9, 2023 6:30 AM] Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets…

Russia’s Largest Private Bank Launches Digital Asset Platform

[Feb 5, 2023 3:00 PM] Alfa-Bank, one of the major Russian banking institutions, has established its own platform for digital financial assets. The launch became possible after Russia’s monetary authority added Alfa-Bank to its register of digital asset issuers this…

Gold-Based Digital Assets Issued in Russia

[Dec 29, 2022 2:30 AM] A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that…

Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan

[Dec 5, 2022 1:00 AM] A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the…

Russia Prepares to Create Government-Controlled Crypto Exchange

[Nov 24, 2022 8:30 AM] Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in…