Recently, Russia and Iran, which are interested in cryptocurrencies to create an alternative in global trade, have started research to issue a gold-backed stablecoin.
According to the Russian news agency Vedomosti, Iran and Russia for cross-border payments plans to launch a new gold-backed stablecoin. “Persian Gulf region token”, this stablecoin project will basically aim to go beyond the cross-border trade embargo on Russia and Iran.
Russian deputy, member of the Information Technology and Communication Committee, who made statements on the subject Anton Tkachevconfirmed the work on a joint stablecoin project, but such a project is not available in Russia. After the digital asset market is fully regulated stressed that it is possible. Tkachev is also the official of cryptocurrencies in 2023. regulation He added that he is waiting for the work to be completed.
This stablecoin project is not the first time Iran and Russia have experimented with using cryptocurrency and blockchain technology. Central Bank of Russia (CBR) cryptocurrencies for international payments in December you plan to test had explained. Iran, on the other hand, launched the testing phase of the “Crypto Rial” in September to take a closer look at the concept of “crypto” in payments.