Russia Mulls Gold-backed Stablecoin Plan, Lawmaker Confirms After Iran Visit

It appears that Russia may be exploring the possibility of launching its very own Gold-backed stablecoin according to reports from a Russian lawmaker. The news comes after Anatoly Aksakov, chairman of the State Duma’s financial market committee, returned from a trip to Iran recently.

Russian Lawmaker Has High Hopes for Stablecoin

During his trip, Aksakov had a meeting with Iran’s central bank governor Abdolnaser Hemmati to discuss the possibility of launching a Gold-backed Russian stablecoin. Aksakov held a press conference after his return, saying:

“A gold-backed coin is a very interesting idea. It is a stablecoin, as it is backed by gold, and it has high potential. There are manys countries that are interested in this idea, and we are also exploring it.”

Gold-backed Stablecoin Was Discussed During Meeting

Aksakov revealed that the discussion regarding the Gold-backed stablecoin was one of the main topics of their meeting. According to him, the parties discussed the possibility of the new cryptocurrency being backed by both gold and silver.

He also mentioned that Iranian and Russian experts will be working together to explore the possibility of launching the stablecoin, and that both countries have multiple areas for collaboration.

It’s Still Too Early for Gold-backed Stablecoin

It’s still too early to tell if Russia will launch its own Gold-backed stablecoin. Aksakov believes that the project has a lot of potential, but there still needs to be extensive research and planning done in order for the project to be successful.

But if all goes well, the world may soon be seeing a new Gold-backed cryptocurrency courtesy of the Russians! Now that’s something worth hoarding.

In the mean time, here are a few reasons why a Gold-backed stablecoin could be a great idea:

  • Stablecoin users could potentially gain exposure to gold.
  • It could offer more reliable returns compared to traditional cryptocurrencies.
  • It could be a viable alternative to fiat currency.
  • It could help facilitate cheaper and faster transactions.

We should know more about the possibility of Russia launching its own Gold-backed stablecoin in the near future. Until then, let’s keep our fingers crossed and wait to see what develops!