Rostec, the Russian defense and technology conglomerate, announced on July 3 that it will introduce a ruble-pegged stablecoin and a linked payment network this year, utilizing Tron infrastructure.

According to the Russian news agency TASS, Rostec named the token RUBx and set a one-to-one exchange rate with the ruble. 

Deputy General Director Alexander Nazarov stated that the corporation will manage the asset through an in-house platform called RT-Pay. The report also said that each coin carries a legal claim to an equivalent amount of currency, providing companies and individuals with a means to transfer rubles on public rails while meeting domestic compliance requirements.

Engineers have built RUBx on the Tron blockchain and plan to publish the smart contract code on GitHub. Project head Dmitry Shumayev also revealed that CertiK will audit the contract before launch. 

Rostec stated that RT-Pay will integrate with existing bank systems, facilitating straight-through settlement, interactions with external wallets, and the execution of smart contracts. 

The firm cited complete alignment with the Russian Central Bank’s guidelines, anti-money laundering statutes, and counter-terrorist finance measures.

Shumayev outlined a phased rollout that surveys demand across sectors, with later stages expected to support additional financial services. Rostec framed the approach as an extension of its mandate to develop strategic technology inside Russia’s borders.

Russian state dives into crypto

The stablecoin plan follows another state-backed move into blockchain finance. Sberbank, the country’s largest lender, sold structured bonds on May 30 that tie returns to Bitcoin’s dollar performance and the dollar-ruble exchange rate. 

The bank said at its launch that the over-the-counter product settles in rubles and targets qualified investors who want crypto-linked exposure without the need for offshore wallets.

Rostec’s entry focuses on payments rather than market exposure, but both initiatives signal that large Russian institutions continue to integrate digital asset functions within local legal frameworks. 

Each entity controls its own distribution and compliance stack, reducing reliance on foreign exchanges while meeting internal audit requirements.

Rostec has not shared issuance caps or reserve management details for RUBx, although executives stated that the corporation will hold rubles equal to the total number of tokens in circulation. 

The company intends to disclose code and audit reports before activation, which will provide external developers and regulators with a clear view of the contract logic.

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Anas Hassan

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Anas Hassan

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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

July 4, 2025

Rostec, a major Russian state-owned defense conglomerate, has found a way to bypass traditional banking systems. It has revealed its intention to introduce its RUBx stablecoin alongside RT-Pay, a specialized platform designed for cryptocurrency-based transactions.

The RUBx token, which maintains a 1:1 peg to the Russian ruble, will function on the TRON blockchain network.

In a July 3 company statement, Rostec indicated that both the stablecoin and RT-Pay platforms would function as secure payment mechanisms for commercial entities and retail users.

Why the RUBx Stablecoin Could ‘Kill SWIFT’ for Russian Payments Despite US Sanctions

Rostec asserts that the platform operates in full compliance with Russian regulatory frameworks, including Central Bank requirements and anti-money laundering protocols designed to prevent terrorist financing.

“Each RUBx token is supported by genuine ruble-denominated obligations. This backing is legally secured. The token maintains a one-to-one ratio with the actual ruble. We plan to launch the system within this year, with Rostec acting as the primary operator,” stated Rostec Deputy General Director Alexander Nazarov.

Rostec has operated under comprehensive US sanctions since June 2022, implemented following Russia’s military invasion of Ukraine.

These restrictions, enforced by multiple nations, including the United States and European Union, target Rostec’s subsidiary companies and affiliated entities.

The sanctions seek to limit Russia’s military production capacity and its capabilities in weapons manufacturing.

Industry observers have characterized the RUBx stablecoin initiative as Russia’s strategic attempt to circumvent SWIFT, the international financial messaging system supervised by G-10 central banks, including the United States.

This interpretation gains credibility given that Russia’s Central Bank has explicitly stated in recent years that its primary objective in developing a digital ruble is to provide Russian corporations and financial institutions with “independence from SWIFT.”

Russia’s ‘Crypto Shift’: State-owned Firms Use Blockchain To Beat Dollar Dominance

Regarding the forthcoming RUBx stablecoin, Rostec confirmed that the RT-Pay platform will integrate with existing banking infrastructure, allowing digital payment processing and interaction with external cryptocurrency wallets and smart contracts.

The RUBx token, built on Justin Sun’s TRON blockchain, will have its source code made publicly available on GitHub and undergo verification and security auditing by CertiK, an independent international blockchain security firm.

Russia also appears to be increasingly embracing cryptocurrency as a method to circumvent international sanctions.

Recently, the Russian Agricultural Bank (RusAg) announced it is collaborating with the Bank of Russia to assess digital asset-based payment solutions for grain export transactions.

Irina Zhachkina, RusAg’s First Deputy CEO, characterized cryptocurrencies as a “practical alternative instrument” for international payments, particularly as sanctions continue restricting Russia’s access to conventional financial systems.

Russian grain exporters are facing mounting pressure from restrictions that affect logistics, shipping insurance, and access to the SWIFT banking network.

These constraints have increasingly complicated Russian companies’ ability to conduct transactions in US dollars or euros.

Both the RUBx stablecoin initiative and grain settlement mechanisms build upon Russia’s previous experience utilizing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) for oil trade settlements with China and India.

State-owned enterprises are also simultaneously developing proprietary blockchain services.

For example, in March, Gazprom, Russia’s majority-state-owned energy giant, launched a series of tradable blockchain-powered “digital financial assets” (DFAs).

Similarly, Rostelecom, Russia’s largest telecommunications and digital services provider, issued two proprietary DFAs on the Moscow Exchange earlier that month.

Additionally, Russia appears to be leveraging cryptocurrency and Distributed Ledger Technology (DLT) as countermeasures against international sanctions.

In May, Russian media outlet RBC reported that the central bank had established regulatory guidelines governing the use of cryptocurrency by Russian firms in international trade agreements.

These regulations specify that digital currencies “must not be associated with securities issued by hostile issuers” and emphasize the necessity of engaging with projects that maintain a presence in “friendly countries.”