Russia’s central bank may roll out digital ruble early 2022. The project is focused on replacing other digital currencies in the country.
Russia’s central bank intends on launching a digital ruble prototype this year, its deputy chairman has recently revealed.
Mobile networks Beeline and Megafon are reported to be considering supporting services for an eventual central bank digital currency.
The Chinese model for its digital yuan is a better template for Russia in exploring a central bank digital currency, central bank officials said.
The state owned bank is reportedly nearing rollout of the technology, which will provide access to digital currencies and digital assets via blockchain.
The Russian central bank recently met with some of the country’s commercial banks to discuss the proposed digital ruble.