{"id":431596,"date":"2022-04-14T16:26:36","date_gmt":"2022-04-14T13:26:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/russia-should-use-crypto-for-payments-with-africa-commerce-exec-says\/"},"modified":"2022-04-14T16:26:36","modified_gmt":"2022-04-14T13:26:36","slug":"russia-should-use-crypto-for-payments-with-africa-commerce-exec-says","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/russia-should-use-crypto-for-payments-with-africa-commerce-exec-says\/","title":{"rendered":"# Russia should use crypto for payments with Africa, commerce exec says"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37181fa9579\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37181fa9579\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/russia-should-use-crypto-for-payments-with-africa-commerce-exec-says\/#%E2%80%9D_Russia_should_use_crypto_for_payments_with_Africa_commerce_exec_says_%E2%80%9C\" >&#8221; Russia should use crypto for payments with Africa, commerce exec says &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Russia_should_use_crypto_for_payments_with_Africa_commerce_exec_says_%E2%80%9C\"><\/span>&#8221; Russia should use crypto for payments with Africa, commerce exec says &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZjk0MDQ0ZmUtMWE1OS00ZTc1LWIwZTMtYWY1MmMxNTgyYTcxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>An executive at Russia\u2019s Chamber of Commerce and Industry has called on the government to conduct cross-border settlements in cryptocurrencies and central bank digital currencies (CBDC).<\/p>\n<p>Chamber president Sergei Katyrin sent a letter to Russian Prime Minister Mikhail Mishustin, providing a set of proposals for developing cooperation with African countries, the local state-backed publication TASS <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tass.ru\/ekonomika\/14372199\">reported<\/a> Thursday.<\/p>\n<p>In the letter, Katyrin reportedly advocated the use of CBDCs and cryptocurrencies for mutual settlement and payments as part of Russia\u2019s move into Africa amid Western sanctions, stating:<\/p>\n<blockquote><p>\u201cIt seems useful to instruct the Ministry of Finance of the Russian Federation, together with the Central Bank, to ensure providing intergovernmental agreements with African states on the use of national currencies and cryptocurrencies in mutual settlements and payments.\u201d<\/p><\/blockquote>\n<p>The executive went on to say that it\u2019s important to establish a special export-import bank and a trust fund to support export activities in small and medium-sized businesses in African countries.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> comes as several countries in Africa are considering cooperation with Russia-linked blockchain networks.<\/p>\n<p>On Monday, Cameroon, the Democratic Republic of the Congo (DRC) and the Republic of the Congo issued a joint announcement on the national plans to adopt TON, the Telegram-initiated layer-1 proof-of-stake blockchain. The DRC is also reportedly considering launching a new national stablecoin built on top of the TON blockchain.<\/p>\n<p>Though Telegram is not formally involved in the TON blockchain after abandoning the project in May 2020, Telegram co-founder\u00a0Pavel Durov expressed public support\u00a0of TON\u00a0and its possible integrations on the Telegram messenger in late 2021.<\/p>\n<p>\u201cThese countries will each undertake a phased transition to adopting cryptocurrency as a central pillar of their economic structures,\u201d the countries said in the announcement.<\/p>\n<p>Russia is still working on a federal crypto bill\u00a0after\u00a0prohibiting residents from payments in cryptocurrencies like Bitcoin (BTC) in early 2021. In mid-February, the Bank of Russia\u00a0officially launched the digital ruble trial, successfully completing the first CBDC transfers among citizens.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto users in Africa grew by 2,500% in 2021: Report<\/em><\/strong><\/p>\n<p>A number of countries in Africa have also been progressing with CBDC development, with countries like Kenya and the Republic of South Africa reporting some progress with CBDCs earlier this year. Last year,\u00a0Ghana was working to develop offline capabilities for its potential CBDC in a bid to promote its use across all segments of society.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/russia-should-use-crypto-for-payments-with-africa-commerce-exec-says\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Russia should use crypto for payments with Africa, commerce exec says &#8220; An executive at Russia\u2019s Chamber of Commerce and Industry has called on the government to conduct cross-border settlements in cryptocurrencies and central bank digital currencies (CBDC). Chamber president Sergei Katyrin sent a letter to Russian Prime Minister Mikhail Mishustin, providing a set&#8230;<\/p>\n","protected":false},"author":1,"featured_media":431597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZjk0MDQ0ZmUtMWE1OS00ZTc1LWIwZTMtYWY1MmMxNTgyYTcxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75581,74862,75046,74863,76419,79216,25562,70934,4975],"class_list":["post-431596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-russia","tag-bitcoin","tag-cbdc","tag-cryptocurrencies","tag-telegram","tag-ton","tag-africa","tag-regulation","tag-russia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=431596"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/431597"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=431596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=431596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=431596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}