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Bank of Russia Expects Wide Adoption of Digital Ruble Within 5 to 7 Years
1.8.2024
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
22.7.2024
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...
Putin Calls to ‘Seize the Moment’ to Kickstart Digital Ruble and Crypto Adoption In Russia
19.7.2024
President Vladimir Putin declared it was time for Russia to create the environment needed to increase the adoption of digital assets and the Russian CBDC, the digital ruble, as part of the country’s economic tissue. He also reported that over 30,000 transactions have been made in the pilot...
Digital Ruble Rollout Will Cost Russian Banks $536m a Year – Experts
15.4.2024
Digital ruble rollout plans could cost the Russian banking sector a total of $536 million per year, financial analysts have claimed.
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Russian Central Bank Chief: Mass Adoption of Digital Ruble Expected in 5 to 7 Years
11.4.2024
Elvira Nabiullina, head of the Russian central bank, has stated that the mass launch of the digital ruble will take five to seven years. This appears to contradict recent suggestions by the chairman of the State Duma Committee on the Financial Market that the launch will begin next year....
Russian Fintech Startups Join Digital Ruble Pilot
8.4.2024
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.
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Russia Discusses Testing Digital Ruble for Budget Payments
27.3.2024
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...
Russia Introduces Bill to Apply Money Laundering Controls to Digital Ruble Transactions
20.3.2024
A group of lawmakers in Russia introduced a bill that would extend money laundering controls to digital ruble transactions. The proposal, spearheaded by the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, establishes different responsibilities for platform participants...
Putin Signs ‘CBDC, Digital Assets Payments’ Bill into Law
13.3.2024
Russian President Vladimir Putin signed a law allowing firms in the country to use digital financial assets including the digital ruble in international payments on March 11.
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Major Russian Companies ‘Will Be Forced to Accept Digital Ruble Payments’
11.3.2024
Major Russian companies will be forced to accept digital ruble payments as of October 2026, a new report has claimed.
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Bitcoin Will Tumble After Launch of Digital Ruble, Says Russian Economist
7.3.2024
Bitcoin will tumble following the rollout of the digital ruble and other major CBDCs, a Russian economist has claimed.
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Russian Digital Ruble Pilot ‘on Track,’ Registers About 25K Transactions
5.3.2024
Elvira Nabiullina, Governor of the Bank of Russia, stated that the current pilot test of the Russian digital ruble was “on track,” with several operations being tested, including opening wallets, and interactions with smart contracts. Nabiullina revealed that over 25,000 transactions...
Russian Central Bank Chief Outlines Next Steps for Digital Ruble
5.3.2024
Russian Central Bank Governor Elvira Nabiullina says the country will use “several stages” to roll out its digital ruble.
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State Duma Approves Use of Russia’s Digital Assets in International Settlements
29.2.2024
State Duma lawmakers have signed off on a bill that will let Russian firms and their partners use the digital ruble and “digital assets” in international settlements.
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Russian Allies ‘Very Interested’ in Doing CBDC Business with Moscow – Key Lawmaker
28.2.2024
Russian allies are “interested” in using CBDCs like the digital ruble for cross-border settlements, a lawmaker said on February 26.
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30 Banks Participating in Russia’s Central Bank Digital Currency Pilot
2.2.2024
The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks, about 600 citizens, and 30 trading and service...
Group of 17 Russian Banks Officially Joins ‘Second Stage’ of Digital Ruble Pilot
2.2.2024
Russia’s digital ruble pilot is gathering pace, with 17 more banks joining the Central Bank’s CBDC project. The group of banks includes heavyweights such as Sberbank and Tinkoff, the Central Bank explained in an official statement. This represents a major coup for the Central Bank. Both Sberbank...
US Sanctions on Russia Similar to Planting a ‘Bomb Under the Dollar,’ Says Russian Analyst
30.1.2024
The United States’ sanctions against Russia are undermining confidence in the U.S. dollar and may force other countries to ditch the currency, a Russian financial analyst has said. The analyst said contrary to the West expectations, the sanctions against Russia have failed to destroy...
Belarus Set to Launch Hyperledger Fabric-powered Digital Ruble Platform
30.1.2024
Belarus is edging closer to the launch of its CBDC, the digital Belarusian ruble, with a new “platform” built on the open Hyperledger Fabric blockchain network. Per Ekononmicheskaya Gazeta, the National Bank of Belarus and the Center for Banking Technologies “began developing a platform for...
Russian Economist: ‘US Sanctions Will Undermine Dollar and Boost Digital Ruble’
29.1.2024
A leading Russian economist has claimed that American sanctions will ultimately undermine the role of the US dollar in the global economy – and help the cross-border adoption of the digital ruble. Per News.ru, the comments came from Alexander Razuvaev, a member of the supervisory board of the Guild...