- Wildberries begins testing cryptocurrency payments in Belarus with fintech partner Whitebird.
- Customers convert Bitcoin, Ethereum, and TON into Belarusian ruble gift certificates.
- The program operates under Hi-Tech Park regulations to limit risks and ensure compliance.
Wildberries, Russia’s largest e-commerce platform, has begun testing crypto payments in Belarus. The program, developed in collaboration with fintech firm Whitebird, operates under the supervision of Belarus’s Hi-Tech Park, a state-backed hub for technology and blockchain projects.
How the system works
Rather than enabling direct cryptocurrency payments to merchants, the pilot relies on a hybrid model. Customers can convert digital assets such as Bitcoin, Ethereum, and Toncoin into electronic gift certificates issued in Belarusian rubles. These certificates can then be used to purchase goods on the Russian e-commerce platform’s website and mobile application.
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Notably, the process starts by users registering with Whitebird, which redirects shoppers to its platform to choose their cryptocurrency and amount. The platform displays conversion rates in real time with no added commission. Once confirmed, the ruble value is credited to the customer’s Wildberries account for use on the platform.
The service is currently available to a limited group of users as part of a test launch. By using ruble-based certificates for crypto payments, the Russian e-commerce platform avoids market risks and stays within national financial rules.
Belarus’s regulated approach
The initiative operates under the supervision of Belarus’s Hi-Tech Park,which ensures digital finance projects follow regulations and manage risks. Only verified users can buy the certificates, and Whitebird handles audits and anti-money laundering checks to keep transactions secure.
Funds loaded onto certificates cannot be withdrawn and must be used for Wildberries purchases. This is the company’s first step into digital assets and comes as Belarus expands its fintech sector after legalizing crypto businesses in 2018.
With crypto transactions in Belarus expected to hit $3 billion by the end of 2025, the program could boost financial innovation and test how consumers respond to regulated crypto payments.
Related: Top Crypto Tax-Friendly and Worst Countries With Up to 50% Tax
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Source: https://coinedition.com/russias-wildberries-lets-shoppers-pay-with-bitcoin-in-belarus/
