Ah, the eternal quest for a currency that doesn’t lose its value the moment you look away from it! 🤑 Russia’s tech conglomerate, Rostec, has decided to join the stablecoin party, because who doesn’t love a good party? 🎉
On a fateful Friday, July 4, Rostec announced its plans to launch a stablecoin, RUBx, backed 1:1 with the Russian ruble. Because what’s more stable than the ruble, am I right? 😂 The RUBx will operate on the TRON network, because even the Soviets loved a good sci-fi novel.
But wait, there’s more! Rostec is also launching RT-Pay, a platform for stablecoin-based payments, because who needs cash when you can have a digital token? 💸 According to the company, both the stablecoin and RT-Pay will serve as secure transaction tools for businesses and individuals. Because security is key, unless you’re a certain Russian oligarch with a penchant for yachts.
“Each RUBx is backed by real obligations in rubles. This is legally fixed. The token to real ruble ratio is one to one. Plans are to launch the system this year, with Rostec serving as its operator,” said Rostec Deputy General Director Alexander Nazarov, with a completely straight face.
The platform will also integrate with Russia’s banking infrastructure, because who doesn’t love a good game of “find the oligarch’s money”? 🎲 And, of course, users will be able to interact with external smart contracts, because decentralized finance is all the rage these days.
Regulatory Compliance: Because Who Doesn’t Love a Good Bureaucrat?
Rostec emphasized that both RT-Pay and RUBx will be fully compliant with Russia’s crypto regulations. Because who needs innovation when you can have regulatory compliance? 😴 The company also plans to implement anti-money laundering protocols and measures to block wallets associated with terrorism financing. Because, you know, priorities.
“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,” said head of RUBx project Dmitry Shumayev, with a healthy dose of Soviet-era optimism.
In recent months, Russia has accelerated efforts to regulate crypto-related activities and integrate them into the official economy. Because who needs a free market when you can have a state-controlled one? 🤣 While individuals are allowed to buy and sell digital assets, cryptocurrencies are still prohibited for use in payments. Because, you know, priorities.
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2025-07-04 17:35