Russia, Iran eyeing gold-backed stablecoin issuance

Iran and Russia are reportedly in discussions for the possible issuance of a stablecoin to be used for international settlements. A stablecoin is a type of crypto that is backed by more stable assets such as fiat currencies like the U.S. dollar or precious metals like gold. The Central Bank of the Islamic Republic of Iran is considering the possibility of issuing a stablecoin to facilitate trade in the region, according to The project will be done with the participation of Russia, according to the head of the Russian crypto industry organization. Should the project pushes...


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