Russia and Iran explore launch of joint cryptocurrency backed by gold

Jhon

1 year ago

In light of the advances in digital assets and the pressures placed on states, Russia and Iran are now exploring the development of a joint stablecoin that would be backed by gold. The executive director of the Russian Association of the crypto industry and blockchain, Alexander Brazhnikov, revealed that the Central Bank of Iran is considering the creation of a stablecoin with the Russian Federation as a means of payment in transactions involving international trade, as reported by the local. Russian news outlet Vedomosti. Brazhnikov said that the value of the coin would be tied to gold (ie a stablecoin). Astrakhan is a free trade zone where Russia has begun to accept Iranian goods; therefore, the currency would be usable there. Anton Tkachev, a member of the State Duma and the Committee on Information Policy, Information Technology and Communications, acknowledged the existence of the discussions. After cryptocurrencies are fully regulated in Russia, which should happen in 2023, Tkachev said that the issue would be considered at the government level.

Full report : Russia and Iran Explore Launch of Joint Gold-Backed Cryptocurrency.