In light of the advancements in digital assets and the pressures exerted 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, according to the local Russian news outlet Vedomosti. Brazhnikov said that the coin’s value would be tied to gold (i.e., a stablecoin). Astrakhan is a free-trade zone where Russia has started accepting Iranian merchandise; therefore, the coin would be usable there. Anton Tkachev, a member of the Duma and the Committee on Information Policy, Information Technology, and Communications, acknowledged the discussions’ existence. After cryptos are completely regulated in Russia, which should happen in 2023, Tkachev said the issue would be considered at the governmental level.
Full report : Russia and Iran explore launch of joint cryptocurrency backed by gold.
