Russia to start using CBDC for international payments in 2025
Influential legislator Anatoly Aksakov says CBDC payments will be the norm in the next five years, and Russia will be paying in digital ruble by the second half of 2025.
Latest Russia News
It’s the subsidy!
The Cabrini-Green and Soviet collective farming were reminders that initiatives, no matter how good their intentions, were doomed to fail without incorporating principles of a free market economy.
Code is not law: Tornado Cash co-founder gets 64 months for money laundering
Alexey Pertsev was accused of allowing criminals to launder US$1.2 billion worth of the Ethereum network’s ETH token through the Tornado Cash coin mixing service.
Iran, Russia cooperating on CBDC and tokenized assets
Iran’s trade attaché at the embassy in Moscow recently confirmed that Russia and Iran are working on a CBDC as Russia works on a framework for Digital Financial Assets.
BRICS still intent on a common currency, but the process is complex: Russia
Russia’s Deputy Foreign Minister Sergei Ryabkov noted that the common currency process hadn’t been shelved but acknowledged that it has many moving parts.
BRICS countries consider blockchain-based stablecoin settlements
The U.S. dollar could face an enormous challenge as the BRICS alliance eyes the use of stablecoins for settlements in the wake of increasing sanctions against Russia and growing rivalry with China.
Digital ruble will take 5-7 years to achieve mass adoption: Bank of Russia
Governor Elvira Nabiullina says that the digital ruble needs to be the most convenient payment method for individuals and businesses before it gains mass usage.
Russia: New law greenlights digital assets use for cross-border payments
The provisions of the newly minted law reveal that only tokenized assets issued by the Bank of Russia are authorized to be deployed in foreign trade payments.
BRICS eye stifling US dollar influence with blockchain-based payment system
Russia is reportedly banking on the planned blockchain-based payment system to reduce the U.S. dollar's global influence, seeking help from other BRICS members.
Russia’s CBDC pilot hits 25,000 transaction mark
Seven months after its introduction, Russia's digital ruble pilot has recorded 25,000 transactions, with the upcoming project with fellow BRICS member states projected to help increase the figure.
Russia BRICS Bridge eyed for cross-border payments with China, Gulf countries
The proposed BRICS Bridge system draws inspiration from the BIS-backed mBridge platform, with China and the United Arab Emirates already recording initial successes.
Russia moves ahead with plans to tokenize digital assets for cross-border trade
The State Duma Committee has issued a green light for the proposed digital assets bill to proceed for a second reading on the floor of the House after confirmation of several proposed amendments.