Mishustin spoke about the plan to launch a cross-border settlement system based on the blockchain

The government, together with the Central Bank, has created a “road map” for the implementation of cross-border settlements using digital financial assets. This was stated by Russian Prime Minister Mikhail Mishustin at a plenary meeting of the Moscow Financial Forum.

Mikhail Mishustin said that the government together with the regulator are working to launch cross-border payments based on blockchain technology using digital financial assets and corresponding utilitarian digital rights. He expressed hope that this will provide “new opportunities to attract foreign investment, which in the current conditions can significantly facilitate the movement of capital.”

Mr. Mishustin emphasized that the sanctions showed that “without their own technological groundwork, countries may find themselves left behind and out of the blue experience a shortage of even the most important goods and components.” Therefore, the government is now focusing on domestic production.

In August, the Central Bank announced its readiness to change regulations so that settlement non-bank credit organizations (RNCOs) could more actively open correspondent accounts in foreign banks.

More details in the material “We welcome non-bankers everywhere”.

Alexandra Goroshilova