payment system

Financial Flows in Russia Decline 3.4% in July

According to the Central Bank, incoming payments through the Bank of Russia payment system fell 3.4% in July compared to the Q2 average, but excluding extraction and public administration, they rose 1.4%.

Visa Launches Platform for Stablecoin Integration

Visa has introduced the Visa Stablecoin Platform, enabling banks and fintech companies to integrate stablecoins into existing payment systems. The platform aims to simplify the use of digital assets among 15,000 financial institutions and 200 million merchants.

Banks Want a Rival to Mir, but Central Bank Sees Costs

The Bank of Russia has not supported banks' initiative to create a second Russian payment system to compete with the existing Mir system, citing costs and conditions.