#TrumpAnnouncesNewTariffs state-backed digital assets has evolved. As of today, February 21, 2026, the Bank of Russia has officially signaled a major pivot by announcing a feasibility study into a national stablecoin.
While the "Digital Ruble" has been the primary focus of Russian headlines for the past few years, this new move toward a stablecoin represents a distinct and strategic shift in their financial toolkit.
The National Stablecoin vs. The Digital Ruble
It is easy to confuse the two, but they serve very different masters. Understanding this distinction is key to grasping Russia's 202