Belarusian President Alexander Lukashenko has called on the country’s banking sector to accelerate the adoption of cryptocurrencies, presenting them as a key tool to soften the economic blow caused by ongoing Western sanctions. In a recent address to central and commercial bank leaders, Lukashenko stressed the urgency of integrating digital assets into the financial system, pointing out that crypto-based payments have already reached $1.7 billion in 2025 — and may climb to $3 billion by the end of the year.
Crypto Adoption Rises as Sanctions Bite
The president emphasized the growing importance of cryptocurrency in international payments, especially as Belarus continues to feel the pressure of EU and U.S. trade restrictions. With traditional exports in decline, Lukashenko suggested that digital currencies could offer a practical workaround to keep cross-border transactions flowing.
He also underscored the need for clear and transparent regulations in the crypto space, citing a surge in user adoption. Analysts expect Belarus to surpass 855,000 crypto users by 2026, while major global exchanges like Binance, OKX, and KuCoin have reported a significant increase in transaction volumes from the region.
Push for a Broader Digital Transformation
Beyond cryptocurrency, Lukashenko outlined a broader digital strategy to modernize the financial ecosystem. He urged banks to adopt technologies such as QR-code payments, real-time payment systems, and more robust use of AI and biometric authentication. These innovations, he noted, are essential for boosting efficiency and delivering tangible economic benefits.
“Modern technologies must not be used for show. They should produce real, measurable results,” Lukashenko stated, encouraging banks to embrace innovation with a results-driven mindset.
As Belarus pivots toward digital finance, the integration of cryptocurrency and cutting-edge payment tools may become central to its strategy for navigating geopolitical headwinds and economic transformation.
