BRICS has been on a crusade to ditch the US dollar and its members are trying to integrate expand the usage of their own payment systems and promote local currencies.
After productive discussions in St. Petersburg, Mohammad Reza Farzin provided updates on the advancement of connecting Russia’s Mir payment system with Iran’s Shetab.
He detailed the phased approach: starting August 22, Iranian Shetab cards will be compatible as Amber smart cards in Russian ATMs, allowing Iranian citizens to withdraw rubles.
Subsequent phases will facilitate Russian card payments in Iran and enable Iranians to use Shetab cards at Russian stores via standard bank terminals.
This initiative, initiated following the Iranian Foreign Ministry’s April 2024 announcement and ongoing discussions since May 2022 led by Russian Deputy Prime Minister Alexander Novak, represents a significant stride forward in enhancing bilateral financial integration.
The final week of July is shaping up to be a pivotal one for global markets, with multiple high-impact U.S. economic events lined up that could trigger volatility across stocks, bonds, and crypto assets.
The crypto market experienced a slight pullback this week after the rally of the previous fortnight. But despite the drop, Bitcoin (BTC) is holding strong above $117,000, up by 10% over the past month. With this resilience, many investors are not only holding BTC but also scouting for new BTC-themed tokens that may offer greater […]
Ethereum’s network just witnessed a seismic shift in activity.
Scrolling through Crypto Twitter or Discords searching for the next 1,000x gem? There’s no need – smart traders are now using AI tools to do the analysis for them and find hidden altcoins before they explode. These tools excel at pattern-spotting, hype-filtering, and cold, hard data crunching. So, we went straight to the three most […]