News Explorer — Founder of Sanctioned Exchange Exved Launches Tether Desk

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Dec 8, 3:27 pm

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Founder of Sanctioned Exchange Exved Launches Tether Desk

Exved, a Russian firm launched by Sergey Mendeleev's InDeFi Bank, aims to facilitate exchanges between Tether, rubles, and the dollar. Mendeleev, also the founder of Garantex, a sanctioned entity, claims that Exved's mechanics have been approved by the Bank of Russia. Despite Garantex losing its license in Estonia due to AML/CFT deficiencies and connections to criminal activity, Mendeleev continues to be involved in the stablecoin ecosystem.

Exved, a Russian firm launched by Sergey Mendeleev's InDeFi Bank, aims to facilitate exchanges between Tether, rubles, and the dollar. Mendeleev, also the founder of Garantex, a sanctioned entity, claims that Exved's mechanics have been approved by the Bank of Russia. Despite Garantex losing its license in Estonia due to AML/CFT deficiencies and connections to criminal activity, Mendeleev continues to be involved in the stablecoin ecosystem.

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