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Nalezeno "ruble": 276

Russian Banks Baulk at Digital Ruble Implementation Costs


Russian banks, particularly smaller ones, are unhappy about the high cost (between $1.25 million and $2 million) of integrating with the central bank’s digital ruble platform. This cost is seen as prohibitive for many banks, exceeding their IT budgets. The central bank has mandated different...

BRICS Slashes US Dollar and Euro Transactions to Below 30%


BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states, signaling a strategic shift to reduce dependency...

Bank of Russia Claims Digital Ruble Issuance Won’t Cause Inflation


The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the state’s mechanisms to control inflation or the amount of money issued. The institution clarified that the new currency does not pose risks to the country’s financial stability...

Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025


The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by this deadline, with smaller institutions following later. The initiative seeks...

India and Russia to Enhance Trade With Rupee-Ruble Payments


India and Russia are discussing ways to enhance bilateral trade by adopting payments in their national currencies and reducing non-tariff barriers. The talks aim to facilitate rupee-ruble trade and address trade imbalances, particularly as petroleum dominates current transactions. With...

Bank of Russia Expects Wide Adoption of Digital Ruble Within 5 to 7 Years


Elvira Nabiullina, the governor of the Bank of Russia, declared that she expects the digital ruble, the Russian CBDC, to achieve a high level of acceptance due to the benefits it offers to Russian citizens. During a speech at the Federation Council, Nabiullina stated that it would be widely adopted...

Cross-Border Digital Ruble Payments May Become a Reality in 2026


Generalized international settlements using the Russian digital ruble will not be available until 2026, according to statements from Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market. Aksakov stated that in 2025, authorities plan to expand the current pilot stage...

Russian Fintech Startups Join Digital Ruble Pilot


Russian fintech firms have begun joining the country’s rapidly progressing digital ruble pilot as the Central Bank looks to widen the scope of its CBDC project. The post Russian Fintech Startups Join Digital Ruble Pilot appeared first on Cryptonews

Russia Discusses Testing Digital Ruble for Budget Payments


The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving payments from these in CBDC, to ensure...

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