Summary
- Russian state corporation Rostec announced it will push for the issuance of the RUBx stablecoin pegged to the ruble, based on the Tron blockchain.
- RUBx will be linked to the RT-Pay payment platform, supporting real-time transfers through Russia's domestic banking network and smart contract functions.
- Rostec states that RUBx will comply with Russian central bank regulations, and the project is regarded as a privately-led ruble-based crypto asset experiment.
The Russian state-owned defense company Rostec is promoting the issuance of a ruble-pegged stablecoin 'RUBx' based on the Tron (TRX) blockchain.
According to crypto-specialized media CoinDesk on the 4th (local time), Rostec plans to directly issue and operate RUBx, which is pegged 1:1 with the ruble. In the future, RUBx will be integrated with the upcoming payment platform 'RT-Pay', supporting real-time transfers and smart contract functions through Russia's domestic banking network.
Rostec stated, "RUBx will comply with the Russian central bank's regulations, as well as fulfill Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) requirements." The platform's source code is expected to be published via GitHub.
Meanwhile, this project is considered a ruble-based crypto asset experiment led by the private sector, separate from the Digital Ruble (CBDC) initiative driven by the central bank.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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