In its first month, Russia’s digital ruble reached 220K accounts.
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There was another development on October 7: Kazakhstan’s central bank will work with Tether to explore a stablecoin pegged to the local currency, as well as tokenized real-world assets.

The project is led by Kazakhstan’s central bank, with Tether as a partner. It’s a research project—not Tether unilaterally launching a new tenge coin.

Russia is also involved in BRICS efforts: several member countries are exploring linking their respective digital currencies for cross-border payments.

Put the two developments side by side: one involves a country issuing its own digital currency; the other, a country taking the stablecoin route. Developments of this kind have exceeded expectations before.

In its first month, the digital ruble reached nearly four times the number of accounts expected by Russia’s central bank.
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