Due to the economic consequences resulting from the sanctions, Russia has started to work on a new monetary and financial system for the country. Q1 2022 hedge fund letters, conferences and more VEB.RF has suggested to the Russian government the idea of creating a gold-backed stablecoin dubbed “ the golden ruble.” VEB.RF believes that a gold-backed ruble stablecoin will allow Russia to evade Western sanctions. What Is A Gold Stablecoin?A gold stablecoin is a tokenized digital currency pegged to gold. For example, Pax Gold (PAXG), a trusted and popular stablecoin, stores gold in vault facilitie…