Sberbank CEO German Gref expressed doubts about the real advantages of the digital ruble compared to non-cash payments. He explained his opinion to journalists on the sidelines of the Financial Congress of the Bank of Russia.
As far as I understand, we are now talking about an experiment. It has not yet become a common method of calculation. As an individual, I don’t understand why I need a digital ruble.
Gref emphasized that all financial transactions in Russia have already been successfully digitized, and non-cash payments perform the same functions as the proposed digital ruble. He also admitted the possibility of using digital currency in cross-border payments, but does not see prospects for its use within the country.
I don’t see a single new product that cannot be made using the usual ruble.
Earlier, the head of the Bank of Russia, Elvira Nabiullina, announced the areas in which the digital ruble may be in demand, including foreign economic activity and wholesale payments. At the end of June, the Central Bank presented the interim results of the digital ruble pilot project. As part of it, about 2,500 wallets were opened and more than 100 thousand transactions were carried out with the participation of 15 banks.
The digital ruble is planned to be put into circulation from September 1, 2026. It is expected that in five to seven years it will become a common payment method for paying for housing and communal services, renting apartments, monthly subscriptions and services.
Earlier www1.ru reported that the digital ruble will begin to be used in the budget system of Russia from October 2025.
Read materials on the topic:
Digital ruble in the budget process: what changes await the financial system of Russia
