Russian P2P Crypto Market Is ‘Worth $296m a Day’ The Russian P2P (peer-to-peer) crypto market
is growing at a rapid pace, with a report claiming vendors can access
“$296 million” worth of trades per day.
Per RB, the claim was made by
Schard, a cryptoasset security platform, at a blockchain conference
operated by the Russian banking giant Sber.
Crypto is still almost completely unregulated
in Russia, after years
of political wrangling.
Many other nations
operate a licensing system for crypto exchanges.
And this has led many of Russia’s biggest crypto trading platforms
to relocate overseas in search of regulated environments.
But that has apparently
opened up a space in the market for smaller exchanges
and over-the-counter deals.
Schard claimed that an average daily figure
of “$296 million” was available to Russians who
“want to sell cryptocurrency” and for fiat.
Vendors typically send their fiat
to “accounts held at large banks.”
And buyers typically
use debit or credit cards issued by major commercial banks
to pay for tokens.
The firm confirmed that most buyers and vendors
are “unregulated online exchanges.”
