Representatives of the two totalitarian states, Russia and Iran, are negotiating the launch own stablecoin. It is reported by Cointelegraph

We are talking about cryptocurrency, the rate of which will be pegged to fiat currencies or goods, which will ensure stabilization. This currency can be used as a means of payment for foreign trade settlements.

How exactly the new cryptocurrency will work from a technical point of view is still unknown. However, there are many relevant blockchains in the world, the publication notes. In addition, Iran already has its own crypto exchange, cryptocurrency exchange services and mining pools.

We can expect the emergence of the Russian-Iranian stablecoin this year if the authorities of both countries adopt relevant legislative acts.

Iran, which is under economic sanctions, has long been actively promoting the idea of international settlements in the crypt. Last summer, the country’s authorities ratified a law on the rules for conducting transactions with cryptocurrencies. In particular, the business received permission to pay for imported goods with virtual money.

Earlier, we reported that an American student developed a program capable of determining who the text was written by: artificial intelligence or human.