Russia is making significant progress toward the launch of its Central Bank Digital Currency (CBDC), the Digital Ruble.
The Central Bank of Russia has completed several successful trials of the digital currency, involving major financial institutions and select consumers.
The Digital Ruble is designed to function alongside cash and non-cash forms of money, providing a government-backed digital payment option that enhances financial inclusion and reduces transaction costs.
The Russian government views the Digital Ruble as a way to strengthen its monetary sovereignty, particularly in the face of international sanctions and the growing influence of decentralized cryptocurrencies. A full-scale rollout of the Digital Ruble is expected in 2025, with plans to integrate it into the country’s existing financial infrastructure.
