Belarus digital assets are being promoted by President Alexander Lukashenko, who ordered commercial banks to expand the use of cryptocurrency and tokenization for external payments to mitigate Western sanctions. Officials reported $1.7 billion in exchange-based external payments so far, with potential year-end volumes near $3 billion.
Belarus orders banks to expand crypto payments to sustain external trade.
Officials reported $1.7 billion in exchange-based external payments in the first seven months; projections suggest up to $3 billion by December.
Tokenization and smart contracts are highlighted to reduce intermediaries, automate transactions, and increase user control over assets.
Belarus digital assets: Lukashenko orders banks to expand crypto payments to bypass Western sanctions and sustain external trade; official volumes cited.
What is Belarus doing to expand digital assets in payments?
Belarus digital assets policy now directs commercial banks to broaden the use of cryptocurrency and tokenization for external payments. The directive aims to preserve cross-border flows amid Western sanctions while promoting smart-contract automation and reduced intermediary reliance in the banking sector.
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How significant are the current cryptocurrency payment volumes in Belarus?
Officials cited $1.7 billion in exchange-based external payments in the first seven months of the year, with a government estimate that volumes could reach approximately $3 billion by December. These figures indicate rapid growth in activity and underscore the policy rationale for scaling bank-led digital asset services.
By COINOTAG | Published: 2025-09-11 | Updated: 2025-09-11
How can Belarusian banks expand digital asset payments safely and compliantly?
- Adopt regulated tokenization platforms: Implement bank-grade tokenization to represent fiat and assets on permissioned ledgers.
- Integrate AML/CFT controls: Embed transaction monitoring and KYC into on- and off-ramp processes to meet international standards.
- Use smart contracts for settlement: Automate conditional payments while retaining legal and audit trails.
- Coordinate with central bank oversight: Align commercial bank offerings with National Bank guidance to ensure systemic stability.
Why is tokenization central to the strategy?
Tokenization is promoted because it can minimize intermediaries, accelerate settlements, and allow programmable controls via smart contracts. Officials argue tokenization improves asset custody and user control, which can strengthen banking efficiency and reduce operational costs over time.
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Belarusian authorities say the move aims to sustain external payments and modernize banking. Independent observers note that increased crypto activity can raise sanction-evasion risks; monitoring by blockchain intelligence firms such as TRM Labs has already traced concerning patterns in the region. Policy design and compliance measures will determine outcomes.
Officials reported $1.7 billion in exchange-based external payments in the first seven months, with projections of roughly $3 billion by year-end. These figures reflect growing use of digital assets for cross-border transactions.
Comparative figures illustrate regional shifts in crypto payment volumes tied to geopolitical pressure and regulatory responses.
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