Russian Central Bank Governor: Considering the use of stablecoins in cross-border settlements

Odaily Planet Daily News The Governor of the Bank of Russia stated at the Financial Congress that the Bank of Russia is considering using stablecoins in cross-border settlements, but only as a supplement to the digital ruble. The Bank of Russia has concerns about using stablecoins for domestic settlements.

Currently, the Bank of Russia is discussing the launch of a ruble-pegged stablecoin under state control and analyzing the appropriateness of combining such tools with central bank digital currencies in cross-border transactions. Additionally, last week, the Bank of Russia proposed regulatory rules for stablecoins, with the core idea being to ensure all transactions are conducted under state control. (Bits.media)