Summary
- Rosselkhozbank has announced that it is considering introducing virtual asset payments in grain trading.
- It was stated that they are discussing ways to utilize virtual assets in grain transactions in cooperation with the Central Bank of the Russian Federation.
- It is evaluated that there is a move to use virtual assets as a global payment method in response to international settlement sanctions.
Rosselkhozbank is reportedly considering introducing virtual asset (cryptocurrency) payments in grain trading.
According to Bitcoin.com on the 2nd (local time), Irina Zhachkina, First Deputy Chairperson of Rosselkhozbank, said at the Grain Forum, "We believe virtual assets can be a convenient alternative," and added, "We are discussing ways to use virtual assets in grain transactions together with the Central Bank of the Russian Federation."
The media outlet commented, "Since 2022, Rosselkhozbank has become subject to international payment sanctions from the United States and the European Union (EU)," adding, "Accordingly, it appears the bank is seeking to utilize virtual assets for global payments in preparation for further sanction escalations."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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