RBC has learned that cryptocurrency is among the top three instruments Russian businesses use to settle foreign trade transactions. The most popular instrument is the USDT stablecoin: it accounted for 27% of all foreign trade transactions over the past six months, T-Bank told the publication. More than half of the companies that have tried crypto payments eventually switch to them entirely, abandoning traditional currencies.
According to a T-Bank representative, Asian countries lead both in the number and volume of crypto transfers, and these jurisdictions are the ones most often involved in such transactions. Nearly 95% of cryptocurrency transactions related to foreign trade are carried out by importing companies. These are primarily manufacturers that purchase raw materials and components abroad, as well as wholesalers importing a wide range of goods—from cosmetics to cars.
According to a T-Bank representative, Asian countries lead both in the number and volume of crypto transfers, and these jurisdictions are the ones most often involved in such transactions. Nearly 95% of cryptocurrency transactions related to foreign trade are carried out by importing companies. These are primarily manufacturers that purchase raw materials and components abroad, as well as wholesalers importing a wide range of goods—from cosmetics to cars.