Russian State Giant Rostec Plans to Launch Ruble-Based Stablecoin and Payment Platform on Tron

PANews reported on July 4 that according to CoinDesk, citing TASS, the Russian state-owned giant Rostec announced that it will launch a stablecoin RUBx and a payment platform RT-Pay on the Tron blockchain, which are 1:1 anchored to the ruble. As a core enterprise of the Russian military-industrial complex, the group will serve as the only issuer and operator of RUBx, and maintain the anchor value through the "real ruble debt" stipulated by law.

The RT-Pay system will be directly connected to the Russian bank settlement network, supporting real-time transfers between enterprises and individuals and smart contract fund locking, claiming to comply with anti-money laundering and central bank regulatory requirements. The project code will be open sourced to GitHub and will be audited by CertiK. This move comes at a time when the Russian Central Bank is simultaneously piloting the digital ruble and has recently allowed financial institutions to provide crypto-related products to qualified investors.