Belarus and Russia to launch unified electronic digital signature this year
New system to streamline financial transactions and strengthen Union State integration
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Photo source: Oleksii Liskonih / iStock
Belarus and Russia plan to introduce a unified electronic digital signature for cross-border financial transactions later this year, marking a significant step in deepening economic integration within the Union State.
The announcement was made by Dmitry Krutoy, Head of the Administration of the President of Belarus, in an interview with a national television channel, as reported by BelTA, a partner of TV BRICS.
According to Krutoy, the project is entering its final implementation phase, including the transfer of specialised equipment and the completion of the necessary digital infrastructure. Once operational, the system will allow both countries to recognise financial transactions conducted entirely in electronic form, based on legally valid digital documents.
The financial sector has been selected as a pilot area for the rollout. Authorities expect that successful testing among financial institutions will pave the way for broader application across other sectors of the economy.
Krutoy also highlighted parallel initiatives by the National Bank of the Republic of Belarus and the Central Bank of the Russian Federation to test settlements in digital currencies. These measures, he said, are intended to enhance the resilience of the two countries’ payment infrastructure.
More than 95 per cent of bilateral trade between Belarus and Russia is already conducted in national currencies, reflecting a high level of financial coordination. Officials argue that the introduction of a unified electronic digital signature, alongside digital currency pilot projects, will further secure cross-border payments and ensure uninterrupted trade flows.
Despite external pressures on financial institutions, Krutoy noted that trade turnover between the two countries continues to grow at a pace exceeding overall GDP growth, indicating that payment systems are functioning effectively. He added that alternative financial instruments and payment routes are also developing successfully.
The launch of a unified digital signature is viewed as a cornerstone of the Union State’s broader strategy to modernise its financial architecture and expand the use of secure digital tools in cross-border economic activity.
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