58% OFF the Premium on Silver Rounds – Ends 3/7 at 4pm EST (while supplies last)
Russia has begun piloting a blockchain-based digital gold system for international settlements, with the goal of reducing its reliance on the dollar and circumventing sanctions.
These digital assets are tokens backed by physical gold stored in vaults, with values pegged to international gold prices. The initial test involves purchasing these digital gold assets with rubles, with repayment scheduled for May 2025.
Capital Lab partner Evgeny Shatov emphasized that this initiative represents the first application of digital gold assets for settling international payments, potentially opening new avenues for trade. The strategic move aims to serve dual purposes: helping Russia reduce its dependence on the U.S. dollar and foreign payment systems while also creating a mechanism to bypass international sanctions.
