Russia Launches Ruble-Backed Stablecoin RUBx and Digital Payment Platform RT-Pay

Russia is set to launch a ruble-backed stablecoin, RUBx, and a digital payment platform, RT-Pay, as part of its efforts to integrate blockchain technology into its financial infrastructure. The stablecoin, RUBx, is issued by Rostec, a state-owned technology firm, and is fully supported by regulated debt obligations in Russian rubles. This stablecoin is built on the Tron blockchain and is pegged 1:1 to the Russian ruble, ensuring that its value is directly tied to the national currency. The issuance and management of RUBx will remain centralized under Rostec’s control, allowing for legal oversight and ensuring compliance with national monetary policy.

Alexander Nazarov, Deputy General Director of Rostec, emphasized that the stablecoin’s value reflects actual currency holdings in rubles, providing transparent backing and consistent valuation. This mechanism ensures that the token remains within the boundaries of national monetary policy and complies with Russian legal frameworks.

In addition to RUBx, Rostec will introduce the RT-Pay digital payment platform. This platform is designed for both individuals and businesses, enabling digital payments through smart contracts and integrating with Russia’s existing banking infrastructure. RT-Pay will support direct transfers using digital wallets and will operate under full compliance with financial regulations, including anti-money laundering frameworks and rules set by the Central Bank of Russia.

To build public trust, the codebase for RT-Pay will be published on GitHub, and the platform will undergo security audits by the global cybersecurity firm CertiK. This step aims to confirm the system’s dependability before full-scale deployment, ensuring that the platform is secure and reliable for users.

The deployment of both RUBx and RT-Pay will follow a staged rollout plan, targeting key economic sectors and ensuring alignment with existing financial systems. The company is placing added focus on integration and user security, with implementation prioritizing efficient onboarding for businesses, especially those requiring smart contract-enabled payment solutions.

Rostec’s move is part of broader efforts by Russia to modernize its financial infrastructure. This includes ongoing work on the country’s own central bank digital currency, the digital ruble. With both RUBx and RT-Pay, the government adds new tools to expand digital transaction capabilities under existing monetary controls, further integrating blockchain technology into the national financial system.