Rostec, the Russian state-owned corporation, will issue the RUBx stablecoin and the RT-Pay payment platform on the Tron Blockchain, pegged 1:1 to the ruble.
RUBx is exclusively issued by Rostec, with its value guaranteed by 'real ruble debt' under legal regulations. RT-Pay supports fast transfers and fund locking via smart contracts in accordance with AML standards and regulations from the Central Bank of Russia.
MAIN CONTENT
Rostec is the sole issuer of the RUBx stablecoin, pegged 1:1 to the ruble.
The RT-Pay platform connects to the Russian banking payment network, supporting real-time transfers and smart contracts.
The project is open-source on GitHub, audited by CertiK, and complies with anti-money laundering standards and Central Bank regulations.
On which platform does Rostec introduce the RUBx stablecoin, and what is special about it?
Rostec, a major enterprise in the Russian military sector, issues the RUBx stablecoin on the Tron Blockchain with a pegging rate of 1:1 to the ruble. This is a strategic move to create a stablecoin with stable value and clear backing.
RUBx is considered the official digital asset of Rostec, placed under strict control, ensuring legality and value safety in the context of global cryptocurrency volatility.
How does the RT-Pay platform operate within the Russian financial ecosystem?
RT-Pay is a payment system designed to connect directly with the Russian banking payment network. It allows real-time money transfers between businesses and individuals, along with fund locking via smart contracts to enhance security and transparency.
The support for real-time transactions, along with compliance with AML (anti-money laundering) regulations and the requirements of the Central Bank of Russia, helps RT-Pay become a breakthrough payment platform that fits the digital finance trend.
The deployment of RUBx and RT-Pay demonstrates Russia's strong commitment to digitizing the ruble and promoting a secure, transparent digital financial ecosystem based on modern Blockchain technology.
Igor Ivanov, Chief Technology Officer of Rostec, 4/7/2024
Do RUBx and RT-Pay fully meet legal and security standards?
The RUBx project is programmed as an open-source project on GitHub and audited by CertiK, a leading software security auditing unit in the blockchain field, ensuring reliability and technical safety.
Moreover, both the stablecoin and the RT-Pay platform strictly comply with anti-money laundering requirements and regulations from the Central Bank of Russia, demonstrating thorough preparation suitable for the official financial market.
The transparency and legal compliance of RUBx is a significant step towards cryptocurrencies becoming reliable and legal payment instruments in Russia.
Elena Petrova, Blockchain Finance Expert, 2024
How does this development affect the cryptocurrency and financial market in Russia?
The participation of a state-owned corporation like Rostec in issuing a stablecoin and developing digital payments shows Russia's seriousness in implementing blockchain technology in finance.
This move coincides with the Central Bank of Russia piloting the digital ruble and allowing financial institutions to develop cryptocurrency-related products, opening up strong development opportunities for the domestic digital financial ecosystem.
Criteria RUBx (Rostec) Digital Ruble (Central Bank of Russia) Issuing unit Rostec (state military corporation) Central Bank of Russia Blockchain platform Tron Details not disclosed Pegging rate 1:1 with ruble 1:1 with ruble Source code & audit Open-source, audited by CertiK Information unclear Payment support RT-Pay, bank connection, real-time, smart contract Bank network connection, digital features
Frequently Asked Questions
What kind of stablecoin is RUBx? RUBx is a stablecoin issued by Rostec, pegged to the ruble, with value guaranteed under Russian law. How does the RT-Pay platform work? RT-Pay connects directly to the Russian banking payment system, supporting real-time money transfers and smart contracts. Is the project audited and open-source? Both RUBx and RT-Pay are open-source on GitHub and audited by CertiK to ensure safety. Does the project comply with Russian law? RUBx and RT-Pay are designed according to AML standards, strictly controlled by the Central Bank of Russia. What is the significance of this stablecoin for the Russian market? RUBx promotes digital finance, enhances reliability, and expands the application of Blockchain technology within the Russian financial system.
Source: https://tintucbitcoin.com/rostec-nga-ra-mat-stablecoin-ruble/
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