Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative.
Such a stablecoin can then be used as a means of payment, in mutual settlements between Russia and Iran for example, Aksakov elaborated, also quoted by the Interfax news agency. He added that the proposal has been received with interest from the Iranian side. News that Tehran and Moscow are discussing the possible launch of a digital currency backed by gold came out earlier in January when the head of the Russian crypto industry association
Wow, that's great news! Looks like Iran and Russia are getting on board with crypto and the DeFi movement. Wouldn't be surprised if we soon see adoption of their own stablecoin for faster and more reliable settlements. crypto DeFi blockchain
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Representational Gold Standard, is the same thing as fiat. The original rug pull.
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Again, anyone proposing gold backed crypto doesn’t understand blockchain.
Brilliant idea
Greatest financial news ever.
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That would happen because they are so trusted?
It is a good idea ever
Hope they deploy on some shit private chain and not ethereum..
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best stable coin ever, will wipe out fraudulent paper money digital copy
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Source: Cointelegraph - 🏆 562. / 51 Read more »