Belarus Accelerates Bank Crypto Adoption to Bypass Sanctions
Belarus’s President Alexander Lukashenko has ordered domestic banks to accelerate crypto adoption and expand digital asset use to stabilize the economy amid EU, US, UK and Canadian sanctions. Crypto-based cross-border payments exceeded $1.7 billion in the first seven months of 2025 and are projected to reach $3 billion by year-end, with major exchanges such as Binance, OKX and KuCoin set to handle increased volumes. Lukashenko also directed banks to roll out QR code payments, launch a real-time payment system by year-end, and integrate biometric IDs and AI tools to boost efficiency. Additionally, plans include fast-tracking crypto regulations, establishing a domestic IT firm, and exploring state-backed mining to leverage excess electricity. This move marks a significant advance in Belarus’s digital assets strategy and crypto adoption roadmap.
Bullish
The accelerated crypto adoption drive is expected to boost demand for digital assets and increase transaction volumes, supporting a bullish market sentiment. In the short term, enhanced payment infrastructure and regulatory clarity may spur trading activity and liquidity, particularly on platforms like Binance, OKX and KuCoin. Over the long term, state-backed support, real-time systems and improved efficiency through QR payments, biometric IDs and AI deployment could solidify crypto’s role in Belarus’s economy, potentially encouraging broader institutional and retail adoption.