🦧 stablecoin but it's gold

iranian central bank x russian government

• iran and russia have announced plans to launch a new crypto, a stablecoin, backed by gold

• called the “token of the persian gulf region”, it will be used as a payment method in international trade

pegged to gold

• the stablecoin would aim to replace fiat currencies such as the us dollar, russian ruble, and the iranian rial, operating specifically in the astrakhan special economic zone

• this is the only special zone in russia that has access to the markets of countries of the caspian sea, and russia has recently begun to accept iranian cargo in the region

changing sentiment

• both iran and russia prohibit their citizens from using crypto for payments, but they're also actively working to "adopt crypto as a tool for foreign trade"

• iran first permitted the use of crypto for imports in august 2022, and iran placed its first import worth $10m+ in crypto

• russia, in september 2022, began relying on crypto as a way to evade trade sanctions arising out of the ukraine conflict

IAU 0.00%↑ #btc #crypto

writing this as bitcoin’s up 20%+ in the past four weeks!

💡 something im thinking about

AAPL 0.00%↑ ceo tim cook requests and receives a 40% pay cut in 2023 (click image)

that's all, folks 🐒

as always, i’m no financial advisor! (i’m no substitute for professional financial services)