Bank of Russia Archives

Russia pushing ‘crypto’ payments, SWIFT alternative as sanctions bite

Finance

Steve Kaaru

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8 July, 2024

Russia pushing ‘crypto’ payments, SWIFT alternative as sanctions bite

Bank of Russia said it had softened its stance on digital asset payment due to sanctions but admitted that the...

Digital ruble will take 5-7 years to achieve mass adoption: Bank of Russia

Business

Steve Kaaru

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16 April, 2024

Digital ruble will take 5-7 years to achieve mass adoption: Bank of Russia

Governor Elvira Nabiullina says that the digital ruble needs to be the most convenient payment method for individuals and businesses...

Russia: New law greenlights digital assets use for cross-border payments

Business

Wahid Pessarlay

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16 March, 2024

Russia: New law greenlights digital assets use for cross-border payments

The provisions of the newly minted law reveal that only tokenized assets issued by the Bank of Russia are authorized...

Russia’s CBDC pilot hits 25,000 transaction mark

Business

Wahid Pessarlay

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8 March, 2024

Russia’s CBDC pilot hits 25,000 transaction mark

Seven months after its introduction, Russia's digital ruble pilot has recorded 25,000 transactions, with the upcoming project with fellow BRICS...

Russia BRICS Bridge eyed for cross-border payments with China, Gulf countries

Business

Wahid Pessarlay

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3 March, 2024

Russia BRICS Bridge eyed for cross-border payments with China, Gulf countries

The proposed BRICS Bridge system draws inspiration from the BIS-backed mBridge platform, with China and the United Arab Emirates already...

Bank of Russia eyes direct support line for retail CBDC users

Business

Wahid Pessarlay

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9 February, 2024

Bank of Russia eyes direct support line for retail CBDC users

Since mid-2023, the Bank of Russia has been experimenting with its central bank digital currency, the digital ruble, and a...

Bank of Russia onboards more commercial banks for digital ruble pilot

Business

Wahid Pessarlay

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6 February, 2024

Bank of Russia onboards more commercial banks for digital ruble pilot

Russia’s CBDC pilot is expected to will gather a larger pool of merchants and participants following the onboarding of over...

Russia pushing pensioners to ‘digital ruble trap,’ economist says

Business

Steve Kaaru

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20 January, 2024

Russia pushing pensioners to ‘digital ruble trap,’ economist says

Alexander Razuvaev says that while it’s being framed as optional, the digital ruble will become mandatory for all pension payments,...

Moscow Exchange to list digital assets by 2024 with 10 operators

Business

Wahid Pessarlay

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27 October, 2023

Moscow Exchange to list digital assets by 2024 with 10 operators

Moscow Exchange plans to list real estate digital assets by 2024, promoting transparency through blockchain technology and offering broad access...

Business

Wahid Pessarlay

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15 August, 2023

Russia to push ahead with CBDC pilot launch amid public concern

As Russia prepares its digital ruble pilot, concerns arise over privacy and the CBDC's potential implications to the financial landscape,...

Business

Wahid Pessarlay

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12 August, 2023

Bank of Russia unveils logo and commission fees for digital ruble: report

Starting in 2025, business-to-business transactions involving the digital ruble will have a 15 rubles ($0.16) charge, while individuals will only...

Bank of Russia: Digital ruble is not compulsory

Business

Wahid Pessarlay

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4 August, 2023

Bank of Russia: Digital ruble is not compulsory

Even though the use of the digital ruble remains voluntary, the Bank of Russia’s law on the CBDC is being...

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