Launches Ruble-supported digital currency RUBx on Tron blockchain by Russian corporation Rostec
Russia is taking significant strides towards integrating stablecoins and cryptocurrencies into its official economy, with state-owned defence and technology giant Rostec leading the charge. The company plans to launch a ruble-pegged stablecoin called RUBx, along with a digital payments platform named RT-Pay, by the end of 2025 [1][2][3].
RUBx will maintain a 1:1 peg with the Russian ruble, aiming to reduce the volatility associated with traditional cryptocurrencies [1][2]. The stablecoin will be issued through Rostec’s proprietary RT-Pay system and deployed on the public Tron blockchain, chosen for its high transaction throughput and low fees [1][2][3]. Each RUBx token will be backed by actual ruble reserves held in the Russian state treasury, allowing for redemption for legal ruble claims and ensuring regulatory compliance [1][3].
The project prioritises transparency and security, with the smart contract code planned to be open-sourced on GitHub and the stablecoin undergoing a pre-launch audit by blockchain security firm CertiK [1][3]. RT-Pay aims to be fully integrated with Russia’s existing banking infrastructure, enabling features like real-time settlements, smart contract execution, and interoperability with external digital wallets [1][3][4].
To ensure compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations as stipulated by the Russian Central Bank, RT-Pay will adhere to these regulations [1][3][4]. The Bank of Russia’s regulatory requirements have been explicitly considered in the stablecoin’s design to facilitate its integration into the official financial system [3].
Initially, RUBx will be used for specific profitable projects before expanding to retail consumers and businesses, reflecting a phased approach towards widespread adoption [3]. This endeavour positions Russia among a select group of nations proactively incorporating blockchain-based digital currencies into their national economy, potentially enhancing transaction efficiency, reducing costs, enabling programmable money, and increasing financial inclusion [2][4].
In summary, Russia’s current regulation framework requires stablecoins like RUBx to be fully backed by national currency reserves, comply with AML/CTF laws, and integrate with the official banking system. Looking forward, the launch of RUBx and RT-Pay in 2025 signals Russia’s ambitious plan to embed blockchain technology within its economy, balancing innovation with regulatory oversight to support stable digital financial infrastructure [1][2][3][4].
In addition, Russia is establishing a crypto exchange for 'super-qualified investors' under a pilot regime, and the RT-Pay ecosystem may serve as a basis for innovative financial services in the future. [5][6]
- Rostec's digital payments platform, RT-Pay, will follow Russia's banking regulations to adhere to anti-money laundering (AML) and counter-terrorism financing (CTF) requirements as stipulated by the Russian Central Bank.
- The Tron blockchain, chosen for its high transaction throughput and low fees, will host Rostec’s ruble-pegged stablecoin, RUBx, which will be open-sourced on GitHub for transparency and undergo a pre-launch audit by blockchain security firm CertiK for enhanced security.
- Each RUBx token will be redeemable for legal ruble claims, backed by actual ruble reserves held in the Russian state treasury, and will be integrated with external digital wallets for interoperability.
- The crypto exchange for 'super-qualified investors' under a pilot regime in Russia, combined with the RT-Pay ecosystem, may serve as a foundation for future innovative financial services in the technology industry.
- Initially, RUBx will be used in specific profitable projects, with the eventual goal of expanding to retail consumers and businesses, aiming to increase financial inclusion, reduce costs, and enhance transaction efficiency within the finance sector.
