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Russia Begins CBDC Settlement Mechanism While Sanctions Continue
A central bank digital currency will be used to establish a cross-border settlement mechanism by Russia's central bank (CBDC). The plans are anticipated in 2023's first quarter. By2024, the Bank of Russia planned to launch its digital currency.
Russian Banking Giant Sberbank and S7 Airlines to Streamline Air Ticket Purchase with Virtual Tokens
Sberbank, Russia’s biggest bank, and S7 Airlines are set to revamp the sale of air tickets with virtual tokens, smart contracts, and a blockchain platform.
Russia Updates Regulations on Crypto Transactions, Harsh Fines Reserved for Defaulters
Russia’s Ministry of Finance has issued an amendment to its current cryptocurrency regulations. The amendments also come with stricter sanctions.
Expobank Sets Precedent in Russia by Issuing the First Crypto-Backed Loan
Russian commercial bank Expobank has set the ball rolling in this nation by issuing a loan secured by crypto tokens, Waves crypto was used as collateral.