Russia Reportedly Looking Into Creating Its Own Stablecoin
Posted On April 16, 2025
Russia is exploring the creation of its own stablecoins following the recent freeze of digital wallets linked to Russian entities, which held large amounts of the USDT (CRYPTO: USDT) stablecoin.
What Happened: A senior Finance Ministry official indicated that such an initiative could help maintain financial autonomy amid growing restrictions from Western sanctions, according to Reuters.
Osman Kabaloev, deputy head of the ministry’s financial policy department, said on Wednesday that the incident underscores the need for Russia to develop internal stablecoin alternatives.
“The recent blockage makes us think that we need to consider creating internal tools similar to …
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