4-7-2025 – Russia’s state-owned technology conglomerate Rostec announced today the launch of RUBx, a ruble-pegged stablecoin, and RT-Pay, a new digital payment platform, both set to debut later this year. Built on the Tron blockchain, RUBx will be backed 1:1 by the Russian ruble, aiming to facilitate secure and efficient transactions for businesses and individuals, according to Rostec’s statement.
The initiative, marks a significant step in Russia’s push for digital financial sovereignty amid Western sanctions. Unlike the Central Bank’s digital ruble, RUBx will support external wallets and smart contracts, offering greater flexibility. RT-Pay will integrate with Russia’s banking system, adhering to anti-money laundering laws and Central Bank regulations.
The platform’s open-source code, to be audited by CertiK and published on GitHub, underscores Rostec’s focus on transparency and security.RUBx and RT-Pay aim to digitize ruble transactions, potentially reducing reliance on foreign stablecoins like Tether, which froze $27 million in Russian-linked assets earlier this year.
Rostec’s Deputy General Director, Alexander Nazarov, emphasized that each RUBx token is legally tied to ruble obligations, ensuring stability. The project aligns with Russia’s broader exploration of blockchain-based payment systems to navigate global financial restrictions.