Russia’s Rostec to Launch RUBx Stablecoin on Tron
Russia’s tech giant, Rostec, is stepping into the stablecoin arena. The state-owned company plans to introduce RUBx, a stablecoin pegged to the Russian ruble. This move aims to enhance financial transactions within the contry.
Expected to launch this year, RUBx will operate on the Tron blockchain. It’s designed to provide a secure and efficient payment solution. The stablecoin will be backed by the Russian ruble at a 1:1 ratio. This means each rubx token will be equivalent to one ruble. The project includes RT-Pay,a platform for stablecoin payments. Both the stablecoin and platform will cater to businesses and individuals, ensuring seamless transactions.
RT-Pay will integrate with Russia’s banking system. Users can store funds in self-custody wallets. They can also interact with external smart contracts, opening doors to decentralized finance. Rostec’s Deputy Director, Alexander Nazarov, highlighted the token’s reliability. He assured that every RUBx is supported by actual rubles. This setup ensures stability and trust in digital transactions.
Security is a top priority.Rostec will implement strict anti-money laundering rules. Wallets linked to illegal activities will be blocked. The system will comply with local crypto regulations. Dmitry shumayev, the RUBx project head, explained the project’s phased rollout.It will focus on various economic sectors,emphasizing safety and compatibility with existing financial systems.
RT-Pay will support decentralized finance. Users can engage with smart contracts outside the platform.The initiative aligns with Russia’s push for crypto regulation. While individuals can buy and sell digital assets, using them for payments remains prohibited. the company will work closely with regulators to ensure compliance. This approach reflects Russia’s growing interest in blockchain technology. The stablecoin aims to foster innovation while adhering to legal standards. The stablecoin’s integration with customary banking will enable broader adoption. The platform will undergo rigorous testing before full deployment. The company aims to create a robust financial ecosystem. It seeks to prevent illicit activities like terrorism financing.
Key features of rubx and RT-Pay include:
- Integration with banks
- Support for self-custody wallets
- Facilitate legitimate transactions
Rostec’s entry into stablecoins shows the nation’s commitment to crypto integration.the move comes as Russia tightens its crypto laws. The stablecoin will offer a bridge between traditional and digital finance.
RT-pay will be regulatory compliant
Rostec emphasized that both RT-Pay and RUBx will be fully compliant with Russia’s crypto regulations. The company also plans to implement anti-money laundering protocols and measures to block wallets associated with terrorism financing.
“The new platform will be implemented in stages, considering the needs of various sectors of the economy.Particular attention will be paid to security issues and integration with the existing financial infrastructure. in the future, the ecosystem may become the basis for a number of innovative financial services and services,” head of RUBx project Dmitry Shumayev was quoted as saying.
In recent months,Russia has accelerated efforts to regulate crypto-related activities and integrate them into the official economy. While individuals are allowed to buy and sell digital assets, cryptocurrencies are still prohibited for use in payments.
