PANews reported on July 4, citing CoinDesk and TASS, that the Russian state-owned giant Rostec announced the launch of a stablecoin RUBx, pegged 1:1 to the ruble, and the payment platform RT-Pay on the Tron blockchain. The group, as a core enterprise of the Russian military-industrial complex, will serve as the sole issuer and operator of RUBx, maintaining the pegged value through legally defined 'actual ruble debt.'
The RT-Pay system will directly connect to the Russian banking settlement network, supporting real-time transfers for businesses and individuals as well as 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 audited for security by CertiK. This move coincides with the Russian central bank's simultaneous pilot of the digital ruble, and recently, financial institutions have been allowed to offer crypto-related products to qualified investors.
