In addition to Tether, companies transacting through the Exved system can use the U.S. dollar and the offshore ruble, the platform said.
One of the first cross-border payment platforms in Russia has officially announced its launch and says it will be facilitating local legal entities to process international settlements in cryptocurrency.
Exved, a local digital settlement platform — which describes itself as a “digital counterparty search system” — announced the launch on Dec. 7, stating that Russian importers and exporters can now use its business-to-business (B2B) solution to simplify the process of “foreign exchange operations and foreign economic activity.”
The Exved platform specifically allows one to proceed with cross-border transactions using Tether (USDT) stablecoin alongside the offshore ruble and the U.S. dollar, the announcement reads.
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