Crypto As A Weapon? Russia Considers Stablecoins To Fight Sanctions

Quick Summary:

Russia’s pivot towards stablecoins comes against the backdrop of its chairmanship of the BRICS group (Brazil, Russia, India, China, and South Africa).

The BRICS nations have previously discussed the creation of a digital currency-based payment system, the BRICS Bridge, to reduce reliance on the US dollar-dominated global financial system.

He emphasized that this is a long-term strategy, aiming to build resilience into the Russian financial system.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: HungaryBrazilChinaIndiaSouth Africa

Topics: Stablecoins Crypto News Russia USDT Crypto USDC

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-05 @ 16:00:59 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21496267

View Article Analysis

About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 8 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

Publisher Details

Frequently Asked Questions