🖥🔔According to OctoQuant Data Research Center:
Cryptocurrencies are gradually becoming the world's dominant currencies, according to insiders who have learned that at least two of Russia's top metals producers have begun using Tether Holdings' stablecoin and a number of other cryptocurrencies to settle some of their cross-border transactions with suppliers. Executives at the company said they declined to be identified because the information isn't public. In some cases, settlements are done through Hong Kong.
Billy Wells, a digital currency expert and founder of Octo, said that cross-border settlements via cryptocurrencies, particularly stablecoins pegged to the U.S. dollar, are a relatively common practice in countries facing dollar liquidity problems and capital controls, and not only in the commodities sector.