Russian state-owned technology conglomerate Rostec plans to roll out a new digital payment system and cryptocurrency, the RUBx token, by the end of the year, the company confirmed this week. The initiative includes the launch of the RT-Pay platform, which aims to facilitate secure digital transactions for businesses and individuals.
RUBx will be pegged to the Russian ruble at a one-to-one ratio and backed by ruble-denominated obligations, according to Rostec officials. The token will operate on the Tron blockchain and comply with domestic financial regulations.
Token Tied to Russian Ruble, Will Use Tron Blockchain
According to Rostec Deputy General Director Alexander Nazarov, each RUBx token will be fully backed by real ruble-based obligations, with the parity and backing framework codified under Russian law.
“Each RUBx is backed by real obligations in rubles. This is legally fixed. The token to real ruble ratio is one-to-one. Plans are to launch the system this year, with Rostec serving as its operator,” Rostec Deputy General Director Alexander Nazarov says.
The digital currency will be issued and managed through the RT-Pay platform, which will serve as the system’s operational backbone. Rostec will oversee the infrastructure and has stated that the source code for RUBx will be made publicly available on GitHub. In addition, the project will undergo verification by CertiK, an independent international cybersecurity firm specializing in blockchain technology audits.
The Tron blockchain was selected for its smart contract capabilities and scalability, officials said. The system is expected to enable digital transactions with support for external wallets and blockchain-based automation features.
Platform to Align With Central Bank Regulations
Rostec emphasized that the new system will be implemented in compliance with Russian financial legislation, including guidelines issued by the Central Bank of Russia. The platform will also incorporate anti-money laundering (AML) and counter-terrorism financing (CTF) measures.
Dmitry Shumayev, head of the RUBx project, stated that the platform will be deployed in phases to accommodate various sectors of the economy. Special emphasis will be placed on integration with existing banking systems and ensuring cybersecurity throughout the rollout process.
In the long term, Rostec anticipates that the RUBx ecosystem could support additional financial services, though no specific future offerings have been announced. For now, the project remains focused on establishing a legally compliant and technically secure foundation for digital payments within Russia.