Russia Delays Full Launch Of Digital Ruble Project

According to BlockBeats, the Central Bank of Russia has indefinitely postponed the full launch of its digital ruble project. Since August 2023, the bank has been testing the digital currency through a limited pilot program involving 12 banks and approximately 600 employees. This program tested wallet functionalities, transfers, and automated payments. Businesses have also explored using the digital ruble for transactions, with initial plans for broader adoption by July 2025. However, the launch has been delayed without a new timeline, as the Russian government has decided to extend the pilot phase to further refine technical aspects and allow banks to assess economic models. Elvira Nabiullina, the Governor of the Central Bank of Russia, reportedly confirmed the delay, emphasizing that the additional time will help financial institutions adopt models suitable for their clients. She also highlighted that the postponement aims to ensure the digital ruble benefits all stakeholders.