Russia and Iran have begun researching gold-backed stablecoins to facilitate international trade settlements.

According to the Russian media Vedomosti, Alexander Brazhnikov, Executive Director of the Russian Association of Cryptocurrency and Blockchain, stated that the Central Bank of Iran is considering creating a stablecoin backed by gold reserves in collaboration with Russia. This token could potentially be used as a payment method in foreign trade settlements instead of the US dollar, Russian ruble, and Iranian rial.

According to the Russian media Vedomosti report, Alexander Brazhnikov, the executive director of the Russian Cryptocurrency Industry and Blockchain Association, stated that the Central Bank of Iran is considering creating a stablecoin backed by gold reserves in collaboration with Russia. This token could serve as a payment method in foreign trade settlements, replacing the US dollar, ruble, and Iranian rial.

Anton Tkachev, a member of the State Duma Committee on Information Policy, Information Technology, and Communications, confirmed the negotiations but noted that active discussions at the state level would only take place after Russia implements comprehensive regulation of cryptocurrencies.

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