Russia’s Big Blockchain Bet: RT-Pay and RUBx – Are You Ready for This Wild Ride?

by

Russia, in its ever-charming way, has decided to spice things up in the digital finance world. Say hello to RUBx, a stablecoin that’s not just any old crypto, but a stablecoin that’s literally backed by the ruble. Yes, you read that right. And to top it off, there’s RT-Pay, a payment platform designed to make your life a little easier—unless you’re trying to get away from the Russian government tracking every single transaction you make. 🙄

RUBx: Not Just Another Coin, It’s Backed by Real Rubles (Promise!)

So, here’s the thing: RUBx is built on the Tron blockchain, and—wait for it—it’s actually backed by real rubles. Because what’s better than a virtual coin that’s totally tied to actual money? Nothing. Each RUBx is equivalent to a ruble. Simple, right? Except that the only issuer of this coin is Rostec, a massive state-owned tech conglomerate with ties to the military and everything else in Russia. Oh, and let’s not forget that these rubles come with legal guarantees, because, of course, everything is perfectly above board in Russia, always. 👀

Russia’s state-owned conglomerate Rostec plans to launch a fiat-backed stablecoin called RUBx later this year, built on the Tron blockchain. RUBx will be pegged 1:1 to the Russian ruble and aims to drive ruble digitization through the RT‑Pay payment platform.…

— Wu Blockchain (@WuBlockchain) July 4, 2025

Alexander Nazarov, Rostec’s Deputy General Director, assures us that RUBx’s value is tied directly to ruble-backed debt obligations. So, if you were ever worried about getting scammed, worry no more! It’s all totally legit, and we can definitely trust the Russian government with our money. Probably. 🧐

RT-Pay: For When You Want to Move Your Money Fast, But Not Too Fast

Alongside RUBx, Rostec is launching RT-Pay, a payment platform designed for individuals and businesses alike. It’s all connected to Russia’s banking system, so expect those smooth digital transactions (unless your account is under investigation—then, good luck). The platform will allow you to move money using digital wallets and smart contracts, which sounds futuristic, but also kind of like a nightmare if you can’t remember your password. 😅

And don’t worry, RT-Pay will follow all of Russia’s financial rules—so no funny business. Anti-money laundering laws? Check. Central Bank regulations? Check. So, it’s basically as safe as… well, anything the Russian government is behind. 😉

And just in case you didn’t trust it enough, the platform’s code will be made public on GitHub. Oh, and they’ve also enlisted global security firm CertiK to make sure it’s bulletproof. So, no one will be hacking your money… unless, of course, they hack it. But we’re sure they won’t! 😏

Russia Goes All-In on Blockchain (Because Why Not?)

Dmitry Shumayev, the project lead, says the launch will happen in stages. They’re focusing on making sure the system is secure and properly integrated with Russia’s existing financial systems. Oh, and by the way, this launch comes at the same time Russia is exploring its very own central bank digital currency (CBDC). So, yeah, Russia is clearly betting big on blockchain, and who can blame them? At this rate, they’ll be running the digital world while the rest of us are still figuring out how to use Venmo. 🙄

All in all, Russia is making some serious moves to modernize its financial services, and who knows? Maybe one day we’ll all be using RUBx and RT-Pay, whether we like it or not. Just don’t say I didn’t warn you. 🤷‍♀️

Read More

2025-07-04 17:07