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The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of the bank announced to Russian media. Russia’s Monetary Authority to Trial Actual Settlements With Digital … Read more
Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking institution stated. Rosbank and Atomyze Exchange Gold and Rubles in Digital … Read more
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital Ruble Said to Result … Read more
The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank to Propose Platforms for Digital Currency Payments in Foreign Trade Moving forward with … Read more
The country’s central bank will begin studying two possible cross-border CBDC settlement models this quarter. Go to Source Powered by WPeMatico
A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to Be the Sole Operator … Read more
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support Digital Ruble Transfers … Read more
Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets. Russian Banks to Record Digital Currencies as Assets in Their Accounting … Read more
Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war. Russian Federation Eyes Digital Ruble … Read more
Developers are working on a “cryptoruble” that, as they say, can improve Russians’ access to global exchanges and be used for cross-border payments. Defi platform Indefibank, which is behind the project, says the token will be pegged to the national fiat but independent from a state-issued digital ruble. Cryptoruble to Give Russian Companies Another Option … Read more
