Rostec to Launch RUBx Token on TRON Blockchain, Paving the Way for Digital Transactions

The state corporation Rostec has announced the introduction of its RUBx token along with the RT-Pay payment platform. The exchange rate for this asset will be set at one-to-one with the Russian ruble.

The company supports the development, production, and promotion of innovative industrial products for export, serving both defense and civilian sectors.

RT-Pay will enable businesses and individuals to conduct transactions in a digital space and will be integrated into the existing banking infrastructure. It will also facilitate interactions with external wallets and smart contracts.

The RUBx token is based on the TRON blockchain. The developers plan to make the source code available on GitHub and will conduct a security audit with CertiK.

Rostec representatives emphasized that the RUBx token is distinct from the digital ruble. Unlike the digital ruble, RUBx is not kept in special accounts and can interact with external crypto infrastructure.

“Every RUBx is backed by real obligations in rubles, and this is legally documented,” said Alexander Nazarov, Rostec’s Deputy General Director.

The launch of the system is scheduled for this year. Initially, the purchase and sale of RUBx will be available through a dedicated web portal. In the future, the developers intend to list the token on exchanges and integrate it into popular wallets.

Recall that on June 4, trading in futures for the shares of the iShares Bitcoin Trust ETF from BlackRock commenced on the Moscow Exchange. Following the debut session, trading volume exceeded 423 million rubles, with nearly 8600 transactions executed.

Subsequently, Sber issued over-the-counter bonds worth 500 million rubles, linked to the price of the leading cryptocurrency.