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.
Latest digital ruble News
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 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.
Bank of Russia eyes direct support line for retail CBDC users
Since mid-2023, the Bank of Russia has been experimenting with its central bank digital currency, the digital ruble, and a tentative launch date is pegged for 2025.
Bank of Russia onboards more commercial banks for digital ruble pilot
Russia’s CBDC pilot is expected to will gather a larger pool of merchants and participants following the onboarding of over a dozen more banks in the initiative, including Russia's largest bank.
Russia pushing pensioners to ‘digital ruble trap,’ economist says
Alexander Razuvaev says that while it’s being framed as optional, the digital ruble will become mandatory for all pension payments, limiting economic freedom.
Bank of Russia extends digital ruble pilot completion to 2025
The Bank of Russia's digital ruble experiments will not launch before 2025 as the central bank continues to test a range of use cases for the CBDC with commercial banks.
Russian lawmakers mull wholesale CBDC amid retail pilot launch
For Russian financial institutions to circumvent Western-backed economic sanctions since its invasion of Ukraine, Russian deputies are pushing for wholesale CBDC while the retail pilot gets underway.
Russia to push ahead with CBDC pilot launch amid public concern
As Russia prepares its digital ruble pilot, concerns arise over privacy and the CBDC's potential implications to the financial landscape, which may likely push back the project's full rollout.
Bank of Russia unveils logo and commission fees for digital ruble: report
Starting in 2025, business-to-business transactions involving the digital ruble will have a 15 rubles ($0.16) charge, while individuals will only have a 0.3% charge of the total value of the transaction.
Russian banks want legislation to prevent compulsory digital ruble usage
Although Russia has said the digital ruble will be optional, banks want that embedded in legislation as they say their customers are wary of the upcoming state-backed digital currency.
Bank of Russia: Digital ruble is not compulsory
Even though the use of the digital ruble remains voluntary, the Bank of Russia’s law on the CBDC is being criticized over its alleged lack of privacy rights.