- Russia’s Rostec is launching RUBx, a stablecoin tied one to one with the ruble, to make digital payments safe and fast.
- RT Pay, a new payment platform, will use digital wallets and smart contracts, following Russia’s financial rules.
- RUBx and RT Pay aim to modernize Russia’s economy with blockchain, separate from the digital ruble project.
Russia’s New Stable Coin Plan
Stablecoin RUBx is being launched by Rostec, a major state owned tech company in Russia, marking the country’s entry into digital currency.
Each RUBx is worth one Russian ruble, backed by real money to keep its value steady.
Rostec, known for military and tech work, will run the show to make sure this stable coin is safe and follows Russian laws. The idea is to make digital payments across the country quick and secure.
RT Pay for Simple Digital Payments
Along with the RUBx stable coin, Rostec is starting RT Pay, a platform for people and businesses to send money easily. It’ll connect to Russia’s banking system, letting users pay with digital wallets or smart contracts.
RT Pay will stick to all financial rules, like anti money laundering laws. To prove it’s safe, the platform’s code will be shared online on GitHub and checked by a global security company, CertiK.
The RUBx stable coin is different from Russia’s digital ruble, another project by the Central Bank, because it works with outside wallets and contracts.
Alexander Nazarov from Rostec says the stable coin is tied to real rubles, so it’s trustworthy for everyday use. This is all part of Russia’s push to bring blockchain tech into its money system.
Rostec plans to roll out the stable coin and RT Pay step by step, starting with parts of the economy that need better payment options.
With a focus on keeping things secure and connected to banks, this could change how Russians handle money. It shows Russia is serious about using blockchain to update its financial world.
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