Discover all the payments and fintech-related news and analysis about Russian Federation in The Paypers News, Reports, along with other Russian Federation-specific insights on the payments and fintech industry:
Discover all the payments and fintech-related news and analysis about Russian Federation in The Paypers News, Reports, along with other
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The Bank of Russia has revealed that the digital rouble platform will support interactions with other central bank digital currencies (CBDCs).
cryptocurrency, CBDC, central bank, digital assets
Russia-based Sberbank has announced that in February 2022 it will launch one its largest Pay Sticker technology mass testing, offered to users free of charge.
mobile payments, product launch, NFC, payment methods, Sberbank
Russian online bank Tinkoff has suspended outgoing SWIFT transfers in foreign currencies until October 2022, after it had struggled with such transactions due to restrictions on Russia's banks.
SWIFT, regulation, financial sanctions, Russia Ukraine War
Russia-based bank Rosbank has partnered with blockchain company Atomyze to issue the first palladium-backed digital asset called ‘palladium token.’
product launch, partnership, stablecoin, blockchain, crypto
The Bank of Russia has announced that it would extend its support package for National Payment System (NPS) entities in 2023.
payment processing, central bank, financial sanctions, payments
Russia-based Sberbank has confirmed its participation in the digital ruble pilot spearheaded by the Russian Central Bank.
CBDC, partnership, central bank, banks, cryptocurrency
The Central Bank of the Russian Federation has begun testing the digital rouble platform and has completed a cycle of transfers between individual clients.
CBDC, banks, digital currency, digital wallet, digital assets
HSBC has agreed to sell its Russia business to Expobank, signing a deal shortly before Moscow said it would move to block the sale of foreign banks' Russian businesses in retaliation for restrictions imposed on its own lenders.
banks, Russia Ukraine War
The Central Bank of Russia has announced it’s ready for the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia.
central bank, regulation, mining, cryptocurrency, digital assets
Following the decision of Visa and Mastercard in early March 2022, followed by Chinese UnionCard, to back away from its territory, Russia has pushed the adoption of the homemade MIR cards, according to EWDN.
Russia Ukraine War, Visa, MasterCard, debit card
Russia-based Sberbank has started removing chips from un-activated cards to combat shortage after European suppliers halted deliveries based on EU sanctions imposed on the country amid the ongoing Ukraine invasion.
Russia Ukraine War, financial sanctions, credit card, debit card, card scheme
The Bank of Russia, the country’s central bank, has admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions.
banks, cryptocurrency, cross-border payments, central bank, regulation
The Central Bank of Russia has decided to use cryptocurrencies for cross-border payments in trials with private companies.
cryptocurrency, central bank, cross-border payments, digital assets
Credit Bank of Moscow - MKB and Bank DOM.FR have announced that they are preparing to issue UnionPay cards starting with Q1 2023.
credit card, expansion, Issuer, financial sanctions, card scheme
Kledjona Mollaj, Consultant at Be | Shaping the Future UK, discusses the latest changes in Russia’s internal payment system and the challenges faced by the government amid the invasion of Ukraine.
Russia Ukraine War, local payment method, remittance, SWIFT, debit card, credit card, Issuer, central bank, mobile payments, online payments
Bankoff, a platform offering cryptocurrency virtual cards, has announced customers its cards are no longer supported by payment systems Visa and Stripe, according to news.bitcoin.com.
Visa, Stripe, Russia Ukraine War, financial sanctions, virtual card, cryptocurrency
The parliament of Russia has published a draft law that considers using digital assets for cross-border payments in a bid to overcome sanctions.
cross-border payments, digital assets, digital payments, regulation
The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments.
regulation, crypto, digital assets, crypto asset, virtual asset
As sanctions against Russia continue to impact the country, MRC explains how cryptocurrency provides an extra layer of obfuscation for those who wish to bypass traditional means of currency transfer.
financial sanctions, Russia Ukraine War, cryptocurrency, banks, financial institutions, SWIFT, KYC, identity verification, cryptocurrency exchange, digital assets
Tinkoff has cancelled interest payments due later in March 2023 on a dollar-denominated Eurobond, days after being targeted with Western sanctions.
payments , Russia Ukraine War, banks, financial institutions, financial services