STABLECOINS AS A MEANS OF CROSS-BORDER TRANSFERS UNDER SANCTIONS PRESSURE
The issue of ensuring the sustainable functioning of the international money transfer system in Russia is relevant in today's realities. Sanctions and the departure of foreign companies have negatively affected the possibility of cross-border transfers, confirming the need for modernization or creating of a new system to solve emerging problems. The purpose of the article: To analyze the current state of cross-border transfers in the Russian Federation, to determine whether it is possible today to use such financial instruments as stablecoins as a means of cross-border transfer, to highlight the main problems and advantages of using these financial instruments. The main problems concerning the use of digital financial assets in Russia are highlighted. The most striking of them are the absence of operators of the exchange of digital financial assets entered in the relevant register, multi-link chains of transfers, in the case of the use of “stable coins”, multi-level commissions, the lack of open reporting of companies developing stablecoins, the absence of many of them confirmed means of providing stable coins. Among the advantages of using these financial instruments, the authors highlighted an increase in the speed of cross-border payments and a reduction in their cost, as well as providing a wider level of financial accessibility to a large circle of users without bank accounts.