The value of the token will be tied to that of gold.
The currency will be initially used in a special economic zone in Astrakhan.
According to reports, the Russian government and the Central Bank of Iran are discussing the possibility of forming a collaboration to develop a new stablecoin that may simplify cross-border transactions. The value of the token will be tied to that of gold.
Vedomosti, a Russian news site, claims that officials in the Persian Gulf area are considering working with Iran’s central bank to introduce a new cryptocurrency they are calling “the token of the Persian Gulf region.”
Avoiding Sanctions Through Crypto
If it ever comes to fruition. It will possibly replace national currencies like the dollar, euro, ruble, and others in international commerce. Both Russia and Iran face sanctions from the U.S. The currency will be initially used in a special economic zone in Astrakhan. According to Alexander Brazhnikov, executive director of the Russian Association of
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