Pilot project on digital ruble to be expanded in 2024 — Central Bank Governor

SOCHI: The testing of the digital ruble is going as planned, the Russian Central Bank’s Governor Elvira Nabiullina told a forum, adding that...


SOCHI: The testing of the digital ruble is going as planned, the Russian Central Bank’s Governor Elvira Nabiullina told a forum, adding that the regulator is preparing to expand the project in 2024 attracting new participants and widening its functions.

"We started the pilot project on the digital ruble with real operations and with real clients in August. Here everything is going as planned, we are testing operations, first of all the opening of wallets, transfers between citizens, the payment of purchases via QR codes. We are watching what should be finetuned. All 13 banks actively participate in the pilot (project) and we are preparing to expand the project next year adding new participants, new clients, including transfers between legal entities," she said.

The digital ruble is the third form of the national currency to be floated in addition to already existing cash and non-cash means. The digital ruble will be one more instrument of payments and transfers. Mass introduction of the digital ruble may start at the beginning of 2025.


-News Feed

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Local Glob: Pilot project on digital ruble to be expanded in 2024 — Central Bank Governor
Pilot project on digital ruble to be expanded in 2024 — Central Bank Governor
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