Russia is able to launch a “crypto-ruble” due to gold reserves

Investors estimate Russia’s gold reserves at $ 147.44 billion. The country has enough resources to launch a unique currency – stablecoin.

The first country in the world which launch stablecoin was China. The combination of a national currency and a cryptocurrency has been called the Crypto Yuan.

Having set a new record on the world market, the price of a troy ounce rose to $ 1994.6. Russia’s strategy to build up its gold reserves has borne fruit – currently, reserves amount to 73.921 million troy ounces. The country is ready to completely switch to gold rubles at the expense of the gold reserve.

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Stablecoin could become much more promising by forming a peg to gold. At the same time, the so-called “crypto-ruble” is able to combine the best qualities from its physical and electronic incarnation.

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