Russia's defense giant quietly launches new cryptocurrency despite EU sanctions

A cryptocurrency associated with Russia's sprawling state defense corporation has quietly launched just as the European Union targets Russian crypto markets with further sanctions.

Blockchain data reviewed by Kyiv Independent suggests that ruble token RubX, announced by Rostec last year, soft-launched on July 17. RubX later started offering swaps to the widely accepted dollar stablecoin Tether via Telegram on July 24.

Cryptocurrencies have emerged as a key conduit for Russian importers to make ...