The Bank of Russia will shift the timeline for the mass implementation of the digital ruble, according to the Central Bank Governor Elvira Nabiullina.
The transition to the widespread adoption of the digital ruble will occur later than initially planned. Before that, the regulator intends to carefully work out all the details of the pilot project and consult with banks on the optimal economic model for their clients.
Originally, the mass implementation of the digital ruble was scheduled to begin on July 1, 2025. However, the new date will be announced later, as banks are requesting a postponement of the implementation.
The Central Bank noted that the pilot project is progressing successfully. It involves 15 banks, a limited number of clients (about 1,700 citizens), and about 30 companies.
The Bank of Russia continues to receive questions from market participants regarding the scope of necessary revisions and requests to postpone deadlines. Nabiullina noted that the main task now is to ensure that the digital ruble is in demand and inspires confidence among both citizens and businesses.
The digital ruble is a new form of Russian national currency, issued in addition to traditional money. One cash ruble is equal to one digital ruble.
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Nabiullina said that there is no need to opt out of the digital ruble through the MFC