Russia Urged to Develop National Stablecoin Amid Global Payment Changes

According to Odaily, Ivan Chebeskov, head of the Digital Financial Assets Department at the Russian Ministry of Finance, has advocated for the development of a Russian stablecoin to align with the evolving global payment systems. Chebeskov highlighted the fundamental changes occurring in the global payment landscape, with several countries advancing their own digital currencies. He emphasized that Russia should not be left behind in this trend. Stablecoins, he noted, could play a significant role in international settlements, particularly when existing payment channels face restrictions. Previously, the Russian Central Bank had initiated testing of the digital ruble.