Rostec, a state-owned defense and technology conglomerate, has announced the launch of its stablecoin RUBx on the TRON platform. The stablecoin will be backed 1:1 by rubles.
Features of RUBx Stablecoin
The RUBx stablecoin will be supported by rubles stored in the state treasury of Russia, ensuring compliance with local laws. The code for RUBx will be available on GitHub to enhance project transparency.
Regulatory Compliance
Rostec stated that the stablecoin is designed to comply with the requirements of the Central Bank of Russia, allowing integration into the financial system, with further use in RT-Pay for conducting transactions.
Integration of RUBx with Banking and Crypto Ecosystem
The stablecoin will connect to traditional banking services through RT-Pay, allowing clients to transfer RUBx to external wallets and make purchases. RUBx will interact with smart contracts and the broader crypto ecosystem.
The launch of RUBx stablecoin on the TRON platform represents a significant step in integrating cryptocurrency into Russia's existing financial system and will support the further development of digital currencies.
