The Bank of Russia has completed preparations for the widespread use of the digital ruble. From September 1, the largest banks and major retail enterprises will begin systematically connecting customers to it, stated Central Bank Governor Elvira Nabiullina.
For users, this means the ability to open a digital wallet and manage money in it through familiar banking services. The digital ruble will become the third form of national currency alongside cash and non-cash money.
We want the digital ruble to be genuinely in demand by people and businesses, to be convenient, and, of course, we are constantly in discussions with banks about what functionality to develop and how best to develop it.
The regulator is considering the possibility of opening digital wallets on the balance sheets of banks, and not just on the Central Bank's platform. Another direction is smart contracts for companies, which will be able to automatically make payments upon fulfillment of specified conditions.
The first tests are already underway: in June, VTB launched digital ruble payments via terminals in pilot mode. From September, the experiment is expected to transition to a broader mode.