Russia’s digital ruble progress update, soon to be used for international payments
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Discover the strategic implications of Binance's recent decision to discontinue Russian Ruble (RUB) services. Understand the impact on users, the reasons behind this significant move, and the subsequent shifts in the global crypto market landscape.
Finance Minister Anton Siluanov outlined plans to use the digital ruble for "social payments" and "subsidies."
Daily trading volume between USDT and RUB reached almost $15 million shortly after the start of the riot.
The Bank of Russia’s digital ruble pilot was originally scheduled to start on April 1.
The head of the Bank of Russia, Elvira Nabiullina, said that many banks are already participating in the experiment with the digital ruble.
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024.
Analysts point to gold outperforming "digital gold" in the wake of geopolitical conflict, with XAU/USD breaking through $1,900.
In an immediate response to rising fiat inflation, Russia's central bank doubled its key interest rate on Monday to 20 percent from 9.5 percent.
The Aura FAT SPAC was listed on Nasdaq and ended its IPO with $115 million in funds after finishing an over-allotment round.