Rostec Launches RUBx Stablecoin on Tron Network for Secure Payments

Russia’s state-owned tech conglomerate Rostec has announced the launch of its own stablecoin, RUBx, on the Tron network. This move is part of a broader initiative to introduce RT-Pay, a dedicated platform for stablecoin-based payments. The RUBx stablecoin is designed to be backed 1:1 with the Russian ruble, providing a secure transaction tool for both businesses and individuals.

According to Rostec Deputy General Director Alexander Nazarov, each RUBx token is backed by real obligations in rubles, with a legally fixed one-to-one ratio. The launch of the system is planned for this year, with Rostec serving as its operator. The platform will integrate with Russia’s banking infrastructure and support transactions through self-custodial wallets, allowing users to interact with external smart contracts and engage with decentralized finance.

Rostec has emphasized that both RT-Pay and RUBx will be fully compliant with Russia’s crypto regulations. The company plans to implement anti-money laundering protocols and measures to block wallets associated with terrorism financing. The new platform will be implemented in stages, considering the needs of various sectors of the economy, with a particular focus on security issues and integration with the existing financial infrastructure. In the future, the ecosystem may become the basis for a number of innovative financial services and services.

In recent months, Russia has accelerated efforts to regulate crypto-related activities and integrate them into the official economy. While individuals are allowed to buy and sell digital assets, cryptocurrencies are still prohibited for use in payments. The launch of RUBx and RT-Pay represents a significant step towards leveraging blockchain technology to enhance financial transactions within the country.