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Russian Firms Adopt Stablecoins In Cross-Border Transactions With Chinese

After several Russian banks were barred from the SWIFT messaging system, Russian firms have started adopting the stablecoin USDT from Tether Holdings Ltd. in cross-border transactions with Chinese businesses.

Following the revelation in a recent Bloomberg report that Russian commodities companies are using fiat-pegged digital currencies to conduct cross-border transactions with Chinese rivals, the stablecoin market is rapidly expanding.

Stablecoin from Tether Holdings Ltd. is being us...

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