States cut off from Western correspondent banking will keep placing crypto inside state-supervised banks to settle trade outside the US banking system, while still relying on dollar-pegged tokens. That erodes the reach of dollar banking faster than it erodes the dollar itself.
forming · confidence 40 · Emerging (watchlist) · tracking since October 15, 2026 · updated October 15, 2026
Russia's central bank cleared Sberbank to trade crypto, with tight limits on retail buyers and a ban on brokers borrowing tokens. Sberbank plans bitcoin products in December and is testing tokens that include the dollar-pegged Tether. A sanctioned state is placing crypto inside a state-supervised bank while still relying on a dollar stablecoin, exactly as the thesis describes.
Supporting · October 15, 2026
Russia's central bank clears Sberbank to trade crypto, with tight limits on retail buyers and broker lending
Russia's central bank cleared Sberbank to trade crypto, with tight limits on retail buyers and a ban on brokers borrowing tokens. Sberbank plans bitcoin products in December and is testing tokens that include the dollar-pegged Tether. A sanctioned state is placing crypto inside a state-supervised bank while still relying on a dollar stablecoin, exactly as the thesis describes.
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