{"id":14362,"date":"2023-12-07T14:22:31","date_gmt":"2023-12-07T14:22:31","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=14362"},"modified":"2023-12-07T14:22:32","modified_gmt":"2023-12-07T14:22:32","slug":"russia-debuts-cross-border-payments-in-tether-stablecoin","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14362","title":{"rendered":"Russia debuts cross-border payments in Tether stablecoin"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>One of Russia\u2019s first cross-border payment platforms has officially announced its launch and says it will facilitate local legal entities to process international settlements in cryptocurrency.<\/p>\n<p>Exved, a local digital settlement platform \u2014 which describes itself as a \u201cdigital counterparty search system\u201d \u2014 announced the launch on Dec. 7, stating that Russian importers and exporters can now use its business-to-business solution to simplify the process of \u201cforeign exchange operations and foreign economic activity.\u201d<\/p>\n<p>The Exved platform specifically allows one to proceed with cross-border transactions using the Tether (USDT) stablecoin alongside the offshore ruble and the United States dollar, the announcement reads.<\/p>\n<p>\u201cThe platform works exclusively with legal entities in compliance with Anti-Money Laundering and Counter-Terrorist Financing measures,\u201d Exved emphasized, adding:<\/p>\n<p>\u201cThe goal of the project is to help Russian legal entities make cross-border payments without intermediaries at minimum market rates.\u201d<\/p>\n<p>According to the announcement, Exved\u2019s launch has involved major industry partners, including InDeFi Bank, which\u00a0launched the decentralized crypto ruble project in 2022.<\/p>\n<p>InDeFi Smart Bank co-founder and CEO Sergey Mendeleev told Cointelegraph on Dec. 7 that Exved\u2019s internal mechanics have been tested and approved by the Bank of Russia and the Federal Financial Monitoring Service of the Russian Federation.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance to terminate Russian ruble deposits next week<\/em><\/strong><\/p>\n<p>\u201cThe project itself, of course, is generally a private initiative; it is intended, first of all, to show people that they can pay 2\u20133% instead of 6\u20137% and to offer specific mechanisms for implementing payment requests,\u201d Mendeleev said.<\/p>\n<p>As previously reported, the Russian central bank and the country\u2019s Ministry of Finance reached an agreement allowing cross-border settlements in cryptocurrencies in September 2022.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Bitcoin ETF race has a new player, Binance ends support for BUSD, and more: Hodler\u2019s Digest: Nov. 26 \u2013 Dec. 2<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/russia-cross-border-payments-usdt\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of Russia\u2019s first cross-border payment platforms has officially announced its launch and says it will facilitate local legal entities to process international settlements in cryptocurrency. Exved, a local digital settlement platform \u2014 which describes itself as a \u201cdigital counterparty search system\u201d \u2014 announced the launch on Dec. 7, stating that Russian importers and exporters [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-14362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14362"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14362\/revisions"}],"predecessor-version":[{"id":14364,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14362\/revisions\/14364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14363"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}