XRP Gains Relevance as Russia Embraces Cryptocurrency in International Trade

Russia's new cryptocurrency framework took effect on September 1st, creating a regulated market for digital assets and paving the way for their use in international trade settlements.

The law allows Russian investors to buy and sell cryptocurrencies through regulated intermediaries and permits exporters and importers to use digital assets for cross-border payments.

XRP could theoretically be used in these transactions if counterparties choose it, as the Bank of Russia has stated that cryptocurrencies can be used in cross-border transactions.

While XRP is not specifically mentioned in the law, its original design as a bridge asset for international settlement makes it relevant to this new development.