Cryptoruble Developers Announce Listing on Exchange

The developers of the cryptoruble have secured their first listing agreement on the new cryptocurrency exchange, ABCex.io. This was announced by Indefibank CEO Sergey Mendeleev.

The platform is currently in beta testing, and the asset will be added within a couple of weeks.

Upon completion of the testing period, cryptoruble users will participate in an airdrop.

The tokenized cryptoruble, based on the Ethereum blockchain, is an independent payment tool, not linked to the central bank’s developing CBDC.

The token is issued through a decentralized smart contract with over-collateralization, following the DAI model. Its exchange rate is pegged to the national currency at a 1:1 ratio.

According to Mendeleev, the cryptoruble serves as a universal fiat replenishment code, which any project can use by implementing its acceptance and issuance on their platform.

“The project will simplify life for everyone who constantly transfers fiat between crypto exchanges via their cards, as this will now take just a few seconds without risks, and cash can be obtained at the counter of any project working with the cryptoruble,” he added.

The total issuance of the asset will directly depend on the amount of collateral provided by three dollar stablecoins — USDT, USDC, and DAI.

The development of the cryptoruble project began in September 2022.