Russia Launches RubX Cryptocurrency Amid EU Sanctions
Russia has quietly launched a new cryptocurrency, RubX, despite facing sanctions from the European Union. The RubX token, pegged 1:1 to ruble reserves, is part of Russia's strategy to circumvent Western financial restrictions by using digital currencies for international payments. The EU has already sanctioned RubX, prohibiting EU entities from transacting with it. RubX is primarily used as a payment channel to convert rubles into U.S. dollar stablecoins like Tether (USDT), which are then used for international trade. This development highlights Russia's ongoing efforts to leverage blockchain technology to mitigate the impact of Western sanctions on its economy. 
