Russia’s tech giant Rostec to integrate digitalassets into cross-border trade.
Speaking during the “Digital Finance: New Ways of Development” conference at the Eastern Economic Forum this week, Rostec’s Managing Director for National Projects Anna Sharipova unveiled that the corporation is exploring the possibility of testing digital assets as a means of payment for imports and exports. Trials will be held under the experimental legal regime for electronic trading on Russky Island, off the coast of Vladivostok, the second-largest city in the Russian Far East.
Quoted by the crypto news outlet Bits.media, the high-ranking executive said that the market is now extremely interested in introducing cryptocurrencies into international trade relations. Separated by borders, suppliers and consumers are looking to modern and efficient settlement systems in the face of various restrictions stemming from the sanctions, Sharipova elaborated.
The news from Vladivostok comes after this week Deputy Finance Minister Alexey Moiseev unveiled that his department and the Central Bank of Russia have studied cryptocurrencies and reached a conclusion that the Russian government needs to legalize and regulate international payments in digital assets as soon as possible.