Russia aims to create two crypto exchanges and stablecoins linked to Yuan and currencies of BRICS member states for advance foreign...
However, the plan could face potential challenges, according to expertsby the Russian publisher Kommersant, the state plans to create stablecoins linked to the Chinese Yuan and currencies of BRICS member countries.
“The risks of secondary sanctions have grown. They make payments for imports difficult, and that concerns a wide range of goods.”The latest update seeks to accelerate the use of crypto to alleviate these problems. To achieve this, Russia will establish two crypto exchanges, one with the St. Petersburg Currency Exchange and another in Moscow.
However, the report also noted potential challenges to adopting the planned exchanges and stablecoins. According to Nikita Vassev, Founder of TerraCrypto, only people without choice will use the platforms.
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