Exved, a Russian crypto payment platform, officially announced its launch, offering cross-border digital currency settlements with the approval of the Bank of Russia.

Exved allows transactions in Tether stablecoin, offshore ruble, and the U.S. dollar, aligning with Anti-Money Laundering and Counter-Terrorist Financing measures.

The launch of Exved aims to facilitate cross-border payments for Russian legal entities without intermediaries and at minimal market rates.

This development follows the Russian central bank and the Ministry of Finance's agreement in September 2022 to permit cross-border settlements in cryptocurrencies.