The main obstacle to implementing cryptocurrency payments in Russia's foreign economic activity (FEA) is not the lack of technology, but the almost complete absence of demand. The market has to be built virtually from scratch.
The key problem lies not in Russia, but with the foreign counterparty. Foreign suppliers, as a rule, do not need cryptocurrency — they require fiat money. The transition to digital assets is largely a forced step, dictated by the geopolitical situation, which is accelerating the adoption of new payment instruments.
First wave: who is already in the game
The first to adopt crypto payments are companies that are already familiar with digital assets in one way or another. These include miners, as well as importers working with jurisdictions where the level of cryptocurrency adoption is higher: the Middle East, Kyrgyzstan, Hong Kong, Indonesia. In other words, the first clients are those who already understand the mechanics and are ready to accept payments in crypto.
However, the situation with the corporate sector is much more complicated. Simply offering payment in cryptocurrency is not enough. It is necessary to explain the essence of the instrument, the principles of pricing, and how the new payment method relates to those already available, in detail and over a long period.
The market needs to be built from scratch
According to experts, the current situation resembles the launch of digital financial assets — the market has to be rebuilt from scratch. The path from the first conversation to a specific deal turns out to be long, and the return in the early stages is low.
My comment: In my opinion, we are observing a classic "chicken-and-egg" paradox. Until there is mass supply and liquidity, demand will not arise, and without demand, no one will develop the infrastructure. The key driver here may not be so much business, but rather government support and the creation of clear regulatory frameworks that will lower the entry barrier for corporations.