Iran and Russia: a new stablecoin

Iran and Russia: a new stablecoin 

16 January 2023

Category

Stablecoin: what is it?

Stablecoin is a digital currency pegged to a stable reserve asset such as the US dollar or gold. Stablecoins are designed to reduce volatility compared to non-pegged cryptocurrencies such as bitcoin.

Iran and Russia are working together to create a new stablecoin supported by gold.

The giants are working to produce a “token of the Persian Gulf region” that will be use such as payment method. 

The Russian Parliament in 2023 will approve the law that regulating crypto transactions. 

SOURCE: CoinTelegraph 

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