the Russia-linked stablecoin built to move money around banking restrictions, says faster trade settlement, yield and regional crypto infrastructure could keep it relevant even if geopolitical tensions ease.
What to know:
A ruble-pegged stablecoin tied to sanctioned Russian defense bank Promsvyazbank, is trying to reposition itself from a wartime sanctions workaround to a long-term settlement tool for trade with Russia.
Executive Oleg Ogienko argues can remain competitive after sanctions ease by enabling fast, non-dollar cross-border settlements and offering high yields linked to Russia’s elevated interest rates.
Efforts to expand role face obstacles from Western-linked financial infrastructure, restrictive draft Russian crypto regulations and ongoing sanctions that limit its visibility and participation in global finance.
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