Russia uses the cryptocurrency ruble for the first time

The developers of the crypto token have signed the first listing agreement on the new cryptocurrency exchange ABCex.io. This was reported by Indefibank CEO Sergey Mendeleev. The platform is currently in beta testing mode, and the asset will be added within a few weeks. After the end of the test period, crypto token users will become participants in the airdrop.

The tokenized cryptocurrency based on the Ethereum blockchain ETH $3,341.03 Bridged Ether (StarkGate) -0.85% Market capitalization $0.28 billion VOL. 24 hours $1.98 billion is an independent tool for settlements that is not related to the CBDC being developed by the central bank.

According to Mendeleev, the crypto token is a universal fiat token that can be used by any project that has implemented its acceptance and issuance on its platform.

«The project will make life easier for everyone who constantly transfers fiat between crypto exchanges through their cards, because now it will take a few seconds without risks, and cash can be obtained at the cash desk of any project that works with crypto tokens,» he added.

The total issuance of the asset will directly depend on the amount of collateral secured by three dollar stablecoins — USDT, USDC, and DAI.

Earlier, Russia said it wanted to legalize cryptocurrencies for international payments. In mid-August, the terrorist sponsor country announced its intention to create a digital ruble. Since the occupier was disconnected from the SWIFT global payment network, the Russian central bank expects the asset to increase the availability of financial services and optimize foreign payments.