Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil

Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil


Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted.

Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade

Iran’s central bank is considering the possibility of creating, with Russia’s participation, a digital token to facilitate trade in the Persian region, according to a report quoting the head of the crypto industry organization in the Russian Federation.

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The coin could be accepted as a means of payment in international settlements, the Executive Director of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), Alexander Brazhnikov, told the business daily Vedomosti and detailed:

It is assumed that

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