Russia launches B2B exchange for cross-border settlements

On December 7, Russia saw the launch of the Exved exchange, which will simplify cross-border payments for Russian importers and exporters engaged in foreign economic activity. ForkLog сообщили representatives of the company.

B2B platform operates exclusively with legal entities in compliance with AML/CFT-procedures. It helps in finding direct counterparties, provides free services for the legal formalisation of deals, and also acts as their guarantor.

For settlements, non-resident (offshore) ruble, United States dollars and USDT are used.

At the launch of the exchange, major brokers in the cross-border payments market and technical specialists from Indefibank participated.

As reported in September, the Russian government announced that, together with the Central Bank, it is working on launching cross-border settlements using ЦФА and utilitarian digital rights.