Rosbank, one of Russia's largest banks, is reportedly venturing into the world of cryptocurrencies to facilitate cross-border payments.
Russia's Rosbank to Use Crypto for Cross-Border Transactions
Rosbank, one of Russia's largest banks, is reportedly venturing into the world of cryptocurrencies to facilitate cross-border payments. Despite being sanctioned by the U.S. Treasury Department last year, Rosbank has already conducted pilot transactions using digital assets, involving both corporate and private clients. While the specific cryptocurrency being used has not been disclosed, Rosbank is collaborating with fintech firm B-Crypto for the project. This move aligns with the statements made by Rosbank's owner, Vladimir Olegovich Potanin, who believes that tokenized assets and a central bank digital currency could drive the country's progress in the digital economy.