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Crypto
Russia\'s largest bank Sber to support cross-border crypto payments with 0.3 percent fee
Russia\'s largest bank Sber has begun processing cryptocurrency payments for companies engaged in overseas trade. It said crypto wallet-to-wallet transfers can be completed in minutes rather than days and the average transaction cost is about 0.3 percent, with required banking and foreign-exchange control documents generated automatically. The move comes as Russia implements its digital currency law, which legalises crypto trading but keeps a domestic payment ban while allowing cross-border settlement.
Crypto
Russia\'s Sberbank seeks to expand crypto-backed loans with ETH and USDT, cool to digital ruble
Russia\'s largest bank Sberbank plans to expand crypto-backed lending by recognising ether and Tether\'s USDT as collateral after previously accepting bitcoin. The bank will adjust products to match a new Russian crypto law due to take effect on Sept. 1, with actual expansion contingent on central bank approval of public trading. Sberbank executives also signalled a cautious stance toward the digital ruble, citing limited interest beyond the central bank.
Crypto
Russia to roll out digital rouble payments from Sept 1; crypto payment ban remains
Russia will begin introducing digital rouble payments from Sept. 1 local time, but will keep prohibitions on using cryptocurrencies as a direct payment method. Major telecoms, online marketplaces and key banks are set to support the state-controlled digital currency, which becomes a third form of national money alongside cash and non-cash roubles. Laws set phased obligations for firms and banks to adopt the system, though surveys show limited consumer willingness to use it.
