Russians transact $5B in crypto each year, Bank of Russia says | DeCenter – Blockchain and Bitcoin

Russians transact $5B in crypto each year, Bank of Russia says

The Bank of Russia published a fresh review on financial stability on Thursday, pointing out the country’s growing role in the $2.8 trillion market.

Citing estimations reported by major local banks in July 2021, the Bank of Russia suggested that the total annual volumes of crypto transactions of the Russian population amount to $5 billion.

In the report, the Bank of Russia also noted that the Russian Federation is among global leaders in terms of visits to the Binance cryptocurrency exchange. According to data from the digital intelligence provider SimilarWeb, Russia is the second big in terms of total traffic on Binance after Turkey.