Russia Eyes Crypto for Grain Export Settlements

• Russia considers crypto payments to streamline grain trade and exports.

• Agricultural Bank explores blockchain as faster alternative to banking systems.

• Blockchain adoption in agriculture signals digital shift in global trade policy.

Russia is now looking into using crypto to make payments for grain exports. This idea is being considered by the Agricultural Bank of Russia in cooperation with the Bank of Russia. If it receives approval, selling and paying for agricultural goods using digital money will be possible.

Agricultural Bank Explores Crypto as Alternative to Traditional Settlements

At first, farmers want to use cryptocurrency to handle settlement for grain sold to foreign countries. The thought was discussed over breakfast during the Russian Grain Forum. Irina Zhachkina, the First Deputy CEO of the Agricultural Bank, thinks that using cryptocurrency could serve as an alternative to traditional banks. She said that banks as well as other leading players in the industry, are giving close attention to this option.

Furthermore, the bank pointed out that using crypto might make it easier to trade crops like peas and chickpeas. These crops are becoming more profitable as the profit margins for wheat are starting to go down. For this reason, there is more interest in increasing the trade of these products. Because it is costly to ship a small order, using digital payments can cut down on the costs and make everything more streamlined.

Russia has begun to use cryptocurrency for a range of other exports. According to reports, Russia has traded oil with China and India by using digital currencies. Because of this, the country can avoid being subjected to Western sanctions. Cryptocurrency allows Russia to do business internationally without relying on banks. Reuters reported in March 2025 that this kind of trade is already being used.

Blockchain Could Speed Up Global Payments for Russian Farmers

In the past, the government in Russia enacted legislation that permitted the use of cryptocurrency for trading abroad. But it was only recently that these laws were put into widespread use. Public use of crypto in oil trade has started and it may soon be expanded to trade of grains. The finance minister said that Russian companies can make international transactions with cryptocurrencies, including Bitcoin.

As a result, Russia could be preparing to increase the use of crypto in exports. This year, the country is expected to ship out more than 49.50 million tonnes of grain, of which 42 million tonnes will be wheat. If cryptocurrency is used in trade, Russia would be one of the first significant countries to adopt it for major agricultural sales.

More countries could decide to partner with Russia in the same way. It might enable farmers to be paid more quickly and conveniently through Blockchain. Also, it could help nations that have been hit by sanctions or face financial restraints.

Overall, Russia making plans to use cryptocurrency to sell grains is good news. The topic is being explored, demonstrating that digital currency is slowly being approved in worldwide trade. If everything goes well, it might make agricultural business practices in different countries much better. It reveals that countries like Russia are developing creative plans to keep up in the global economy.