Digital Ruble Could Come as Early as 2024

Digital Ruble Could Come as Early as 2024

3 months ago

The Bank of Russia targets 2024 as the launch year for its digital currency.

Digital Ruble Could Come as Early as 2024
According to a report by a Russian crypto media outlet, the Bank of Russia targets the comprehensive implementation of the digital ruble in 2024.
A draft document reveals that the Bank of Russia aims to "gradually connect all credit institutions to the digital ruble platform and increase the number of available payment options and transactions using smart contracts" two years from now.

Not all features will be available immediately, though. An offline mode and connecting non-banking financial organizations and exchanges are only scheduled for 2025, according to

The Bank of Russia aims to allow market participants to ease into new conditions with a gradual digital ruble implementation, and could impose further restrictions on maximum amounts held in wallets. It also emphasized the advantages of keeping money in bank accounts, such as generating income through interest.

According to Deputy Governor Olga Skorobogatova, a roadmap for the full implementation of the digital ruble is to be expected by the end of next year. Skorobogatova also added that financial sanctions after the start of the Ukraine war accelerated Russia's launch of its own CBDC.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
3 people liked this article