Russia Says We Need to Develop: It Is Considering Issuing Its Own Coin! - Coin Newsletter

Osman Kabaloev, Deputy Head of the Financial Policy Department of the Russian Ministry of Finance, said that he should consider developing his own stablecoins.

Osman Kabaloev has said that his country should consider developing its own stablecoins following the freezing of digital wallets linked to Russia last month. Kabaloev stated that these stablecoins can be pegged to currencies other than the dollar.

Kabaloev's remarks are seen as part of Russia's efforts to gain more sovereignty in the cryptocurrency world and counteract Western sanctions. This step stands out as a strategy aimed at increasing Russia's economic independence.

In addition, stablecoins can be important tools to strengthen Russia's digital economy. Kabaloev said that their stablecoin could enable more secure and stable trading in international payment systems.

These statements, in which Russia is considering developing an alternative digital currency for international trade, moving away from the dominance of the dollar, may have great repercussions in the global financial world. The country may choose to adopt digital assets more in response to Western sanctions.