Russian banks to implement digital ruble by 2024

Category

RUSSIA - A Russian central bank digital currency (CBDC) could be implemented soon; commercial banks in the country are being advised to prepare to handle a digital ruble within the next two years.

According to a document dated August 11 and issued by the Bank of Russia – the country’s central bank – a digital version of the ruble may become available for settlement between individuals and enterprises as early as next year.

Meanwhile, by 2024, the Russian CBDC may be used to connect financial institutions to the digital ruble platform, as well as to “increase the number of payment options and transactions available using smart contracts,” the document said.

According to the central bank, the CBDC is expected to reduce the costs of settlement and transactions compared to currently available methods.

Source https://cryptonews.com/news/russian-banks-start-handling-digital-ruble-by-2024.htm

Recent Post
metaverse

Metaverse: from Oculus to Discord

By next week the Metaverse Assembly in Dubai

TME TV - INTERVIEW WITH SILVIO LUCHETTI

Come back the Metaverse Fashion Week

Metaverse Fashion Week is back

Ethereum's Merge completed, the platform enters a new ecofriendly era

TME TV - INTERVIEW WITH RITA TROMBIN, FILIPPO CAPRIOGLIO AND ROBERTO CAPODIECI

TheMetaEconomist 2022 - Privacy / Cookies
crossmenu