Rostec, a major Russian state-owned defense conglomerate, has found a way to bypass traditional banking systems. It has revealed its intention to introduce its RUBx stablecoin alongside RT-Pay, a specialized platform designed for cryptocurrency-based transactions.

The RUBx token, which maintains a 1:1 peg to the Russian ruble, will function on the TRON blockchain network.

In a July 3 company statement, Rostec indicated that both the stablecoin and RT-Pay platforms would function as secure payment mechanisms for commercial entities and retail users.