Russian millionaire’s startup plans Ruble stablecoin following DAI model
09/14 10:31
According to CoinDesk, Alexander Lebedev, the former owner of Russia’s National Standard Bank and the publisher of U.K. newspapers The Independent and Evening Standard, is starting a new cryptocurrency project.
The decentralized finance (DeFi) startup he founded, InDeFi, plans to introduce a ruble-backed stablecoin on the Ethereum blockchain, co-founder and CEO Sergey Mendeleev said at the Blockchain Life conference in Moscow.
Mendeleev, who is also founder of the Garantex crypto exchange sanctioned by the U.S. Treasury, noted that the project has nothing to do with the Bank of Russia’s digital ruble. InDeFi’s crypto ruble will be decentralized, Mendeleev said. A trial version of the coin with minimal features is available for testing and feedback, he told CoinDesk.
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