🖥🔔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.
#OctoQuant #cryptocurrency #USDT $BTC
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.
#OctoQuant #cryptocurrency #USDT $BTC