Russia Delays Rollout of Digital Ruble
The pilot initiative for the digital ruble began in August 2023, engaging 600 employees from 12 banks and concentrating on the evaluation of digital wallets, peer-to-peer payments, and automated transactions.
Russia Delays Rollout of Digital Ruble
The Central Bank of Russia has announced a delay in the widespread launch of the digital ruble until it completes testing and reaches an agreement with banks on an economic framework.
Elvira Nabiullina, the bank's governor, stated that a new launch date will be provided once the testing phase is finalized and discussions with banks are concluded.
The pilot project for the digital ruble commenced in August 2023, involving 600 employees from 12 banks and focusing on the testing of digital wallets, peer-to-peer payments, and automated transactions.
The Central Bank has reiterated that the digital ruble is not intended to replace cash.
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