Belarusian President Alexander Lukashenko has ordered the country’s banks to widen the use of cryptocurrencies, stressing that digital assets could help offset economic damage caused by Western sanctions. Addressing central and commercial bank leaders, he urged them to act quickly, highlighting that crypto-based payments had already reached $1.7 billion this year and could climb to $3 billion by December.

The president also called for transparent rules for the crypto market, citing rising adoption. Belarus is expected to surpass 855,000 crypto users by 2026, with major exchanges like Binance, OKX, and KuCoin handling a surge in transactions. Lukashenko noted that crypto is playing a growing role in international payments as exports continue to shrink under EU and U.S. restrictions.

Alongside crypto, he pressed for a stronger digital strategy, including QR-code payments, an instant payment system, and broader use of biometric and AI-driven solutions. “Banks must try to make the most of modern technology,” Lukashenko said, stressing that digitalization must deliver real economic results.

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