Russia's state-owned technology conglomerate Rostec has unveiled the RUBx stablecoin, pegged 1:1 to the Russian ruble and operating on the Tron blockchain, alongside its RT-Pay digital payment platform. The dual launch aims to modernize domestic financial transactions by enhancing speed, transparency, and regulatory compliance within Russia's digital economy.
The RUBx stablecoin will be fully backed by ruble reserves held in treasury accounts, with each token representing legal debt obligations under Russian law. Rostec maintains exclusive control over issuance and circulation to ensure alignment with financial regulations, including anti-money laundering and counter-terrorism requirements from the Central Bank of Russia. The token is designed to facilitate stable digital settlements while avoiding cryptocurrency volatility.
RT-Pay will serve as the operational backbone for RUBx, enabling 24/7 transactions through integration with Russia's banking infrastructure. The platform supports self-custodial wallets, external smart contract interactions for DeFi applications, and will undergo a security audit by CertiK. Rostec plans to open-source RT-Pay's code on GitHub to ensure transparency.
The initiative, launching in stages throughout 2025, positions Rostec at the forefront of Russia's digital payment transformation. It complements the Central Bank's digital ruble pilot and reflects broader national efforts to adopt blockchain technology within regulated frameworks.