Elvira Promised to Make the Digital Ruble an International Means of Payment

https://www.aroged.com/2022/09/08/the-head-of-the-central-bank-promised-to-make-the-digital-ruble-an-international-means-of-payment/

The Head of the Central Bank Promised to Make the Digital Ruble an International Means of Payment

The head of the Bank of Russia, Elvira Nabiullina, said that many banks are already participating in the experiment with the digital ruble, and in the future, the official electronic currency will enter the international arena – the department will actively contribute to this process.

Ms. Nabiullina’s statement was made in a film dedicated to the 220th anniversary of the Russian Ministry of Finance – the tape was shown on television the day before. The head of the Central Bank of the Russian Federation said that many Russian banks are taking or want to take part in the experiment with the digital ruble. And already in 2023, the new payment format will begin to be gradually introduced into circulation. “Next year, we will start carrying out a separate type of operations on a limited scale, so that later we can gradually start putting it into circulation,” said Ms. Nabiullina.

In the light of recent events, electronic currency can become an alternative to traditional banking services when working with foreign counterparties, and the department is going to actively develop this area. Therefore, the Central Bank of the Russian Federation will “actively promote the possibility of cross-border settlements” with the participation of the digital ruble.

The digital ruble combines the qualities of non-cash and cash currency: online transactions are supported, however, payments can be accepted even if there is no Internet connection, that is, offline.