😔 Crypto withdrawals: cross-border payment agents under scrutiny

😔 Crypto withdrawals: cross-border payment agents under scrutiny

Colleagues from the “Fintexno” channel point out that the current “quasi-ruble” market lacks universal arbitration mechanisms. Even when payments go through banks, legal and reputational responsibility falls on the agent.

▶️ A growing issue: Russian importers often file complaints over minor delays or try to reclaim already transferred funds, causing disputes with agents. These delays may threaten the continuity of business operations.

▶️ Current market data:

⚪️ Tracking transfers can take up to 2 weeks and may involve a fee.

⚪️ Commissions have dropped from 3% to 1–1.5%.

⚪️ Refunds may take several weeks.

▶️ Safer alternatives: mechanisms like letters of credit, nominee accounts, and escrow services help by holding funds until conditions are met.

▶️ Tech development: a possible solution is to invest in digital services with automated payment control. For example, TON withdrawal flows to euro-denominated Wise cards via Telegram synchronize the process between parties using a status system. In contrast, Bybit lags in speed and cost efficiency.

#news #Russia #crypto #p2p

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