Rostec, Russia's state-owned arms manufacturer, is set to introduce its own stablecoin, RUBx, as reported by state media. This digital currency will be backed one-to-one by rubles and will operate on the Tron blockchain, known for its efficiency in handling stablecoin transactions. Alexander Nazarov, Rostec's deputy general director, confirmed that each RUBx will have real ruble obligations, a detail legally established. The project has received approval from Russia's central bank, facilitating financial transactions for both individuals and businesses. Besides weapons, Rostec also produces medical equipment and car engines, and it plans to launch a payment platform called RT-Pay. The Tron network, which supports major stablecoins like USD Coin and USDT, allows for quick and cost-effective transfers, making it a popular choice in decentralized finance. As stablecoins gain traction globally, with companies like Meta and Amazon exploring their own, Russia's entry into this market reflects a broader trend of crypto adoption amid sanctions and regulatory changes. Read more AI-generated news on: https://app.chaingpt.org/news

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