Russia Reaches $12 Billion in Crypto Settlements, Putin Aide Confirms

HKAN | Sep 27

Russia Hits $12 Billion in Crypto Settlements, Putin Aide Says

Russia has processed more than $12 billion worth of cryptocurrency settlements, according to a senior aide to President Vladimir Putin. The announcement underscores the country’s accelerating shift toward using digital assets for international trade amid global sanctions.

Officials say crypto has become a key tool for enabling cross-border transactions, bypassing traditional financial systems and SWIFT restrictions. The $12 billion figure includes payments for energy exports, commodities, and other trade-related settlements.

Key Takeaways:

• Volume: $12 billion in crypto settlements

• Use Case: Cross-border trade and international transactions

• Context: Alternative to traditional payment networks

• Significance: Boosts Russia’s position in global crypto adoption

Analysts believe this trend could push Russia to further develop its digital ruble program and regulate crypto markets to ensure transparency while continuing to sidestep restrictions from Western financial institutions.