Russian company Rostec to Launch Ruble Stablecoin RUBx and Payment Platform RT-Pay

BlockBeats News, July 4th, according to TASS, Russia's state-owned news agency, reported that Rostec, the core company of the Russian military-industrial complex, announced the launch of the RUBx stablecoin pegged 1:1 to the Russian ruble on the Tron blockchain, along with the RT-Pay payment platform. Rostec will serve as the sole issuer and operator of RUBx and will maintain its pegged value through the legally defined "ruble actual debt." The RT-Pay system will directly integrate with the Russian banking settlement network, supporting real-time transfers for both businesses and individuals, as well as smart contract fund locking.

The RUBx stablecoin and RT-Pay payment platform project code will be open-sourced on GitHub and undergo a security audit by CertiK. The Central Bank of Russia is also piloting the digital ruble concurrently, having recently allowed financial institutions to offer related products to qualified investors.