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The Russian defense group Rostec launches a neo stablecoin pegged to the ruble on TRON.
On July 3rd, the Russian technology and defense group Rostec announced that it will launch the RUBx stablecoin pegged to the ruble along with the RT-Pay payment system this year, utilizing the Tron blockchain infrastructure.
Token RUBx has a conversion rate of 1:1 with the ruble, issued through the internal platform RT-Pay, ensuring compliance with domestic regulations. Each RUBx is equivalent to one real ruble and has legal value. The smart contract will be published on GitHub and audited by CertiK before deployment.
Rostec announced that RT-Pay will integrate with the current banking system, supporting direct payments, external wallets, and smart contracts. The system strictly complies with the regulations of the Central Bank of Russia, anti-money laundering, and counter-terrorism financing.
This is a new step in Russia's national financial digitization strategy, following Sberbank's move to issue bonds linked to Bitcoin's performance and the USD/RUB exchange rate last May. Unlike Sberbank, which focuses on investment, Rostec aims at domestic payment solutions through digital assets.
Rostec has not yet announced the issuance limit or reserve details but asserts that it will maintain an amount of rubles corresponding to the circulating RUBx and will make the source code and audit reports public before activating the system.