The Central Bank will launch the digital ruble into mass circulation no earlier than 2025 – Kommersant
[ad_1]
The mass introduction of the digital ruble will begin no earlier than 2025, the Bank of Russia reported. It is assumed that it is planned to scale the use of the digital ruble only after the completion of the pilot project.
“Currently a pilot is underway using real digital rubles on a limited number of clients. This is the circle of Bank of Russia employees and clients of 13 banks. Next year the number of participants will expand, but will still remain limited. The pilot will continue until at least the end of 2024 and will be extended if necessary. Only after the completion of the pilot will the digital ruble be introduced into mass circulation,” they said “RIA News” in the press service of the regulator.
The bill on the digital ruble was submitted to the State Duma in 2022. Russian President Vladimir Putin signed the law in July 2023.
In October of this year, the Central Bank offered provide access to the digital ruble to foreign banks from 2025. This will allow cross-border payments to bypass SWIFT. Since August 15, 13 Russian banks have been conducting test operations with the digital ruble. Until 2025, the regulator does not plan to oblige banks to connect to the digital ruble.
Read more about digital financial assets in the Kommersant article. “Exchange, exchange all around.”
[ad_2]
Source link
