Digital Ruble

Bank of Russia to pilot digital ruble with real transactions in April
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24 February, 2023

Bank of Russia to pilot digital ruble with real transactions in April

For the first time, Russia will move ahead with its central bank digital currency pilot program involving 13 banks and...
Russia’s Gazprombank suggests slowing down digital ruble launch fearing losses for commercial banks
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12 February, 2023

Russia’s Gazprombank suggests slowing down digital ruble launch fearing losses for commercial banks

The digital ruble has received heightened attention as the government intends to use it to circumvent economic sanctions imposed on...
Russia studying CBDCs for cross-border payments amid tightening sanctions
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13 January, 2023

Russia studying CBDCs for cross-border payments amid tightening sanctions

Efforts to launch the digital ruble are already in place, with testing client-to-business (C2B) operations by selected financial institutions scheduled...
Digital ruble bill submitted to Russia’s State Duma
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4 January, 2023

Digital ruble bill submitted to Russia’s State Duma

The new draft bill seeks to make the Bank of Russia the “sole operator” of the digital ruble to the...
Russia eyes use of digital ruble in transacting with China
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4 October, 2022

Russia eyes use of digital ruble in transacting with China

As the U.S. fortifies its grip on the global financial system, Russia targets to give sanctions-hit countries an opportunity to...
Russia’s Finance Ministry eyes collaboration with other countries on stablecoin settlement platform
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12 September, 2022

Russia’s Finance Ministry eyes collaboration with other countries on stablecoin settlement platform

To counter sanctions, Russia is looking to set up a stablecoin platform with help from allies to settle cross-border payments,...