Sberbank has launched cross-border payments in cryptocurrency for corporate clients engaged in foreign trade, according to Alexander Vedyakhin, Sberbank’s Deputy Chairman. He was speaking at the Eastern Economic Forum.

There are no restrictions on the minimum payment amount, while the average transaction fee is 0.3%. A payment from one crypto wallet to another takes a couple of minutes, while supporting documentation for banks and currency control purposes is generated automatically during the transaction.

Vedyakhin said that “for Russian exporters and importers, international settlements in cryptocurrency mean faster payments, new markets and partners previously unavailable due to restrictions. The…