Russia is preparing to launch the RUBx stablecoin and the RT-Pay payment system, designed to operate within the country's strict regulatory framework.
RUBx Stablecoin on the Tron Blockchain
The RUBx stablecoin will be issued on the Tron blockchain and pegged to the Russian ruble at a 1:1 ratio. Unlike most public crypto projects, this token will be fully issued, managed, and backed by Rostec itself. Each RUBx will be tied to actual ruble-denominated obligations, ensuring its financial and legal anchoring.
RT-Pay Payment System
The accompanying payment infrastructure, RT-Pay, will allow for smart contract functionality and digital wallet transfers while integrating tightly with the existing banking framework. This aims to enable frictionless transactions between users without violating national financial controls. The open-source code will be available to the public, and cybersecurity oversight will be provided by CertiK.
Gradual Launch and Future Steps
Rostec announced that the rollout of RUBx will be gradual, initially targeting key industries and institutions. Unlike experimental crypto startups, the firm is opting for a step-by-step deployment, emphasizing bureaucracy over hype. This initiative adds to Russia's growing portfolio of blockchain experiments, including the ongoing digital ruble pilot by the central bank.
The arrival of RUBx and RT-Pay demonstrates Russia's approach to leveraging blockchain technology within a framework of state-controlled digital finance.
