Russia Considers Using Crypto To Settle Grain Export Transactions

(MENAFN- Investor Brand Network) Russia's state-owned Agricultural Bank is exploring the use of cryptocurrency as a new way to handle international grain payments , particularly in light of ongoing sanctions. With the country expected to export nearly 50 million tons of grain this season, officials are looking at digital assets as a potential workaround to traditional financial systems that have become harder to access.

The interest shown by Russia in tapping crypto to settle its grain export transactions will likely be welcomed by crypto industry firms like Bit Mining Ltd. (NASDAQ: BTCM) since it could further drive crypto mainstream and attract additional investments into the industry by people and institutions that were...

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