Russia and Iran are studying the use of digital currencies in their trade exchange
Russian Ambassador to Tehran Alexey Dedov said that Russia and Iran are studying the possibility of using cryptocurrencies for export and import operations, but a regulatory framework is needed.
“Both Russia and Iran are considering the use of digital currencies and digital financial assets in export and import operations,” Didov said in an interview with “Sputnik”.
The Russian ambassador indicated that the process of reaching any specific agreements is still in the “working phase.”
Last month, representatives of the Central Bank of Russia and the Central Bank of Iran signed an agreement for cooperation in the field of facilitating financial and banking transactions between the two countries.
On January 16, Finbold reported that Russia and Iran are looking into developing a common stable currency backed by gold, in light of developments regarding digital assets.
The executive director of the Russian Association of the Cryptocurrency Industry, Alexander Praznikov, revealed that the Central Bank of Iran is considering creating a stablecoin with the Russian Federation as a means of payment in transactions involving international trade, according to Russian newspaper Vedomosti.