The Russian central bank has indefinitely postponed the launch of the digital ruble project
2025-02-27 16:22:08
The Central Bank of Russia has indefinitely postponed the full launch of the digital ruble project and there is no new timetable. It is reported that the Central Bank of Russia began testing its digital currency in August 2023 through a limited pilot program, which involved 12 banks and about 600 employees. Wallet functions, money transfers and automatic payments have been tested. Businesses are also exploring the use of the digital ruble for transactions, with preliminary plans to achieve wider adoption by July 2025. Elvira Nabiullina, the governor of the Russian Central Bank, allegedly confirmed the extension, stressing that the additional time will help the Financial Institution Group adopt a model suitable for its clients. She also stressed that the delayed launch is to ensure that the digital ruble benefits all stakeholders.
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