Russia and Iran will create an international Association of digital economy

The goal of the organization will be to work jointly on new products

31.03.2023 - 09:00

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What’s new? Russia and Iran are working on the creation of an international Association of digital economy, the goal of the organization will be to work jointly on new products. In addition, five or six countries may join it as early as this year. Alexander Brazhnikov, executive director of the Russian Association of Cryptoeconomics, Artificial Intelligence, and Blockchain (RACIB), told TASS.

Material by TASS

What else is known about the initiative? Brazhnikov noted that friendly states, including the CIS and Latin American countries, will be able to join the association. According to him, Iran’s experience is useful for creating a joint national crypto exchange, which will work in the interests of the two countries. Brazhnikov added that Iran has made serious progress in this direction.

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Earlier, Russia and Iran discussed the creation of a common stablecoin with a peg to gold. According to Brazhnikov, the stablecoin will be accepted as a means of payment in foreign trade payments instead of the dollar, the ruble, and the Iranian rial.

Last August, the Iranian authorities allowed local companies to pay for imported goods with cryptocurrency, and in September they began testing the digital rial. In November, the US Treasury Department imposed a $362 000 fine on the Kraken crypto exchange for violating sanctions against Iran.

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