The Ministry of Finance of Russia and the Central Bank will launch a pilot project next year to use the digital ruble for certain types of budget expenditures, said the head of the Ministry of Finance of the Russian Federation Anton Siluanov during a meeting in the Federation Council.
An agreement between the ministry and the regulator was reached on November 17, he added. According to Siluanov, the digital ruble will be used not only for money transfers, guaranteeing Russians almost zero commissions, but also in industries where it is important to ensure the targeted nature of spending.
These are certain social benefits and subsidies that are directed to purchases or the provision of services
The development of the digital ruble began in Russia in 2021. Legal norms enshrining the use of the third form of national currency came into force on August 1. The pilot project with the digital ruble, in which banks and individuals participate, will run until 2025.
Earlier it was reported that VTB presented a technology with which customers will be able to withdraw digital rubles from ATMs.
