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 <p class="is-style-lead">In a Dec. 6 post on Telegram, the Russian digital settlement platform Exved shared the announcement of its cross-border payment system, which is set to offer a solution for local legal entities engaged in international trade to use cryptocurrencies.</p> 
 <p>Exved’s platform will enable Russian importers and exporters to utilize the Tether (USDT) stablecoin alongside the offshore ruble and the United States dollar.</p> 
 <h2 class="wp-block-heading" id="a-multifaceted-approach">A multifaceted approach</h2> 
 <p>As stated in the&nbsp;Exved announcement, the newly launched project aims to empower Russian legal entities by facilitating direct <a rel="dofollow" title="cross-border" href="https://thebittimes.com/tag/cross-border.html">cross-border</a> <a rel="dofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s at minimal market rates, eliminating the need for intermediaries. The exchange exclusively caters to legal entities and says it is committed to upholding anti-money laundering (AML) and combating the financing of terrorism (CFT) procedures.</p> 
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   <img decoding="async" width="601" height="1024" src="https://cdn.thebittimes.com/images/2023/12/07/c87b4679d3b48fd12f043e2918e468e1.webp" alt="Exved launches cross-border cryptocurrency payment platform - 1"> 
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   Dec. 6 post |&nbsp;Source: Exved Telegram
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 <p>Beyond its primary objective of connecting counterparties, the <a rel="dofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a> will also offer complimentary services such as assisting in the legal registration of transactions and escrow service, acting as a trustworthy guarantor for added security in financial dealings.&nbsp;</p> 
 <p>Exved’s initiation has seen collaboration with notable industry partners, including InDeFi Bank, which was recognized for spearheading the decentralized <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ruble project in 2022.</p> 
 <h2 class="wp-block-heading" id="removal-of-rubles">Removal of rubles</h2> 
 <p>As reported in an earlier update from November, the world’s largest <a rel="dofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> exchange has ceased accepting deposits in Russian rubles since Nov. 15.&nbsp;</p> 
 <p>However, withdrawals will remain possible until Jan. 31. Users holding fiat balances in Russian rubles can transfer their funds to CommEX free of charge, as outlined in the announcement. </p> 
 <p>While some are straying away from cryptocurrency operations in Russia, local companies continue to embrace them.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/exved-launches-cross-border-cryptocurrency-payment-platform-tbt72948.html">https://thebittimes.com/exved-launches-cross-border-cryptocurrency-payment-platform-tbt72948.html</a></p>

Exved launches cross-border cryptocurrency payment platform

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