Utilize RUBM and USDM as full-fledged means of payment and transfer ruble and dollar checks via the P2P-exchange and Telegram-bots.
Buy and sell goods and services for RUBM and USDM.
Monolith is proud to announce the launch of the first of its kind product on Russian and CIS cryptocurrency markets: the stablecoins Monolith RUB (RUBM) and Monolith USD (USDM), tethered to the prices of Russian ruble and United States dollar.
Monolith reserves are provided only with physical assets, such as gold, other precious metals and stones, equipment, raw cash, real estate. The reserves are managed by investment and private banking experts. A separate investment company was established in one of the English jurisdictions to manage the capital. In the future, companies in Switzerland and Panama will also be created to distribute risks. Capital management and audit of companies will be conducted in accordance with the rules and regulations of the relevant jurisdictions.
What is a stablecoin?
Stablecoins are a kind of cryptocurrency designed to constantly maintain a stable price by tethering these tokens to the traditional "fiat" currencies. Therefore, RUBM and USDM are "stable tokens", which at any point in time always have the same price — equal to that of one ruble and one dollar respectively.
Main advantages of the Monolith Stablecoins
A hedge against crypto volatility
With Monolith traders can make transactions and stabilize their profit in crypto/stablecoin trading pairs, while avoiding slow, bureaucratic and morally outdated payment systems and banks.
Modern means of payment
Fast and effective worldwide transactions combine the speed of a digital currency with the stability and reliability of traditional fiat money.
Fast and effective trading in Monolith/crypto pairs
For traders, it's much easier to estimate changes of the crypto exchange rate and calculate their potential profit.
Set of advanced trading tools
Cryptocurrency exchanges that do not inherently support fiat transactions due to the legislative or regulatory obstacles can benefit from supporting the RUBM and USDM tokens.
Low transaction fees
Exchanges that support the deposit and withdrawal of fiat currencies usually have higher transaction fees. By using the Monolith stablecoins traders can minimize most of the extra expenses and maximize their profits.
No obligatory verification and KYC procedures
The Monolith Stablecoins are not a traditional fiat currencies and therefore operate outside of the regulators' jurisdiction.
The Monolith Stablecoin is an indispensable instrument for merchants, crypto payment systems and decentralized applications.
Monolith RUBM is the first stablecoin tethered to the Russian ruble.
Infrastructure. the Monolith stablecoins are based on the Ethereum blockchain's ERC-20 standart.
Storage. RUBM and USDM tokens can be stored on all of the platforms that support Monolith and on Ethereum ERC-20 compatible wallets: Mist, MyEtherWallet, EthereumWallet, Jaxx, Geth, EthAddress, Ledger Nano S, Trezor, and others.
Reserve. Monolith also guarantees that at any given time the sum of the reserve funds will be equal to total number of tokens in circulation.