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Russian Central Bank Tempers Talk of 2024 Digital Ruble Rollout

today 12/12/2023
The Russian Central Bank is downplaying the idea of launching the digital ruble in 2024, stating that it will not be ready for nationwide use until 2025. While the bank is expanding its existing CBDC pilot, it emphasized that digital ruble activities in 2024 will be limited and the pilot will continue until at least the end of that year. The bank's comments come after the Russian finance ministry claimed that all Russians would be able to use the CBDC in 2024. There is a discrepancy between the more optimistic stance of the ministry and the cautious approach of the central bank.
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