Russia China Turning To USDT To Settle Deals Amid Sanctions
The post Russia China Turning To USDT To Settle Deals Amid Sanctions appeared first on Coinpedia Fintech News
Russian firms are increasingly turning to stablecoins like Tether (USDT) to settle deals with China. Specifically, commodities firms in Russia, particularly those dealing with metals and timber, have found stablecoins to be an effective solution for cross-border transactions due to their swiftness and cost-effectiveness. Stablecoins help mitigate the risk of frozen overseas bank accounts, a problem that has troubled Russian firms. This shift towards crypto is driven by the challenges posed by international sanctions. Russian lawmakers are considering a legal framework for the use of stablecoins in international transactions.
