This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Russia is expanding its use of cryptocurrency beyond energy deals, now exploring digital asset payments for grain trade settlements. This move strengthens BRICS efforts to bypass U.S.-controlled financial systems amid ongoing sanctions. The initiative follows earlier crypto-backed oil transactions with China and India.
- Russia is expanding crypto use from oil to grain trade, collaborating with the Bank of Russia to assess digital payment systems.
- The initiative aims to bypass SWIFT sanctions by using Bitcoin, Ethereum, and stablecoins like Tether for settlements.
- BRICS nations, including China and Brazil, support blockchain-based trade systems to reduce reliance on U.S. financial infrastructure.
📎 Related coverage from: crypto-news-flash.com