Russia and Iran are discussing the creation of a common stablecoin on gold
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The Central Bank of Iran is considering the possibility of creating a token of the Persian region together with Russia. It is planned that it will be accepted as a means of payment in foreign trade settlements instead of the dollar, ruble and Iranian rial. This was reported Vedomosti Executive Director of the Russian Association of the Cryptoindustry and Blockchain Alexander Brazhnikov.
According to him, the token will be backed by gold, that is, we are talking about creating a stablecoin. He believes that it is appropriate to create such a token with Iran, because it is a more progressive country in terms of the crypto industry. Mr. Brazhnikov recalled that this year the special economic zone in Astrakhan will begin to receive cargo from Iran. It is planned that a token can also be earned on this base.
A stablecoin is a cryptocurrency whose value is pegged to “classic” money or precious metals.
Negotiations on the token were confirmed by a member of the Duma Committee on Information Policy, Information Technology and Communications Anton Tkachev. He added that this topic will be discussed at the state level only after the use of cryptocurrency is approved in Russia. He argues that the use of digital currency by Russia and Iran in trade has an advantage over SWIFT.
In August 2022 Iran registered the first order for the import of goods in cryptocurrency. It was about deliveries worth $10 million. The head of the Iranian Trade Development Organization, Alireza Peimanpak, spoke about the country’s plans to widely use cryptocurrency in foreign trade. In 2021, analytics firm Elliptic reported that Iran accounts for 4.5% of the world’s cryptocurrency mining, which could provide the country with a total of about $1 billion per year, allowing it to bypass sanctions.
About the situation on the market – in the material “Kommersant FM” “Bitcoin is going up”.
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