“Rubx, Based on the Tron Blockchain, Will Be Anchored to The Russian Ruble and Integrated with The Country’s Banking System.”, – WRITE: www.coindesk.com
Each Rubx, accounting to State-Bowned News Agency Tass, Will RepreSent One Russian Ruble Held in a Treasury Account. Rostec Will Run the Token As the Sole Issuer and Operator, Anchoring the Asset’s Value Through “Real Obligations in Rubles” Written Into Law.
The token is set to be bassed on the Tron Blockchain. ROSTEC INTEENDS TO DO CONTRACT CODE ON GITHUB AND HAS TAPPED BLOCKCHAIN-SECUARITY FIRM CERTIK for AN INDEPENDENT AUDIT, The REPORT ADDS.
Rt-Pay Will Plug Straight Into the Country’s Banking Rails. That link lets companies and private citizens move money in seconds, Even after business hours, or lock funs in smart Contracts.
ROSTEC SAYS RT-PAY, WHICH WILL BE INTEGRATED COUNTH The Country’s Banking Rails, Meets Anti-Money-Launding and Counter-Terrorism Rules and Complies with Bank of Rusia.
A Prased Launch Will Target Sectors with High Payment FirmT, THEN Expand, Rubx Project Dmitry Shumayev Reportedly Said.
The Project Lands As Moscow Tests A Separeate Digital Ruble Issued by the Central Bank. The Country Has Been Warming Up To The Cryptocurrency Space, with The Bank of Russia Earlier this Year Allowing Institutions to Offer Crypto-Linked Instruments.
Russia’s Largest Bank Sberbank and Moscow Exchange Have Already Launched Products Tied to Bitcoin
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Cryptocurrencies have also be used to Circumvent Western Sanctions on Russia’s Oil Trade. Reports Suggest Some Russian Oil FIRMS HAVE USED BTC, ETH, AND SOME STABLECOins to Convert Payments Made in Chinese Yuan and Indian Rupees Into Rubles.
Read More: Russia Turns to Crypto to Bypass Western Sanctions in Oil Trade: Reuters
