The Russian cross-border payment platform Exved has officially launched, using USDT for cross-border transactions for the first time

ChainCatcher news, according to Cointelegraph, one of Russia's first cross-border payment platforms, Exved, has officially announced its launch, which will facilitate the use of cryptocurrency for international settlements by local legal entities. The announcement stated that the Exved platform specifically allows people to use Tether (USDT) stablecoin for cross-border transactions with offshore rubles and dollars.

It is reported that the platform aims to help Russian legal entities make cross-border payments at the lowest market rates without intermediaries. The launch of Exved is supported by various entities, including InDeFi Bank, which launched a decentralized crypto ruble project last year. The CEO of InDeFi stated that the internal mechanisms of Exved have passed testing and approval by the Central Bank and the Federal Financial Monitoring Service of Russia.