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.
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