Rostec to Launch Crypto-Ruble Stablecoin on Tron Network
Russia’s state-owned weapons manufacturer Rostec announced plans to launch a stablecoin, the RUBx, associated with the Russian ruble. The project aims to be legally sanctioned by the Central Bank of Russia.
RUBx will be built on the Tron blockchain, powered by TRX, according to a report by Russian state broadcaster RT quoting Rostec’s deputy general director, Alexander Nazarov. Nazarov stated RUBx will be a 1:1 stablecoin backed by rubles.
Context and Sanctions Avoidance
While Rostec is primarily known for arms manufacturing (aircraft, defense systems), it also produces civilian goods like medical equipment. The planned RUBx stablecoin effort is part of Russia’s broader use of cryptocurrency to circumvent Western sanctions following its invasion of Ukraine.
The introduction of RUBx is intended to facilitate easier movement of funds for companies and individuals. Russiа’s interest in digital assets is not new; crypto mining was legalized in 2021, and President Putin previously publicly acknowledged the growing influence of digital payments.
