The Central Bank of Iran is reportedly working with Russia to issue jointly a new stablecoin to facilitate payment for cross-border transactions. According to Alexander Brazhnikov, the executive director of the Russian Association of Crypto Industry and Blockchain, the new stablecoin will be pegged to gold. The crypto would operate in a special economic zone in Russian city Astrakhan. However, a Russian lawmaker emphasized that the project would only be implemented when the country’s digital asset market becomes fully regulated.