Russia to explore cryptocurrency backed by gold despite ban on internal use
Shortpedia
Content Team
Image Credit: the guardian
Russia is working with the Central Bank of Iran to develop a joint stablecoin for cross-border settlements that would be backed by gold, according to reports. Russia's Deputy Finance Minister Alexey Moiseyev said that Russia is working with many countries to issue a new cryptocurrency backed by gold. This move is to abolish transactions in fiat currencies like the US dollar and the euro.
