Russia Archives

BRICS still intent on a common currency, but the process is complex: Russia

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2 May, 2024

BRICS still intent on a common currency, but the process is complex: Russia

Russia’s Deputy Foreign Minister Sergei Ryabkov noted that the common currency process hadn’t been shelved but acknowledged that it has...

BRICS countries consider blockchain-based stablecoin settlements

Business

Fred Baker

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25 April, 2024

BRICS countries consider blockchain-based stablecoin settlements

The U.S. dollar could face an enormous challenge as the BRICS alliance eyes the use of stablecoins for settlements in...

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...

BRICS eye stifling US dollar influence with blockchain-based payment system

Business

Wahid Pessarlay

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9 March, 2024

BRICS eye stifling US dollar influence with blockchain-based payment system

Russia is reportedly banking on the planned blockchain-based payment system to reduce the U.S. dollar's global influence, seeking help from...

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...

Russia moves ahead with plans to tokenize digital assets for cross-border trade

Business

Wahid Pessarlay

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2 March, 2024

Russia moves ahead with plans to tokenize digital assets for cross-border trade

The State Duma Committee has issued a green light for the proposed digital assets bill to proceed for a second...

China, Russia collaborate to explore safe military use of AI

Tech

Wahid Pessarlay

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10 February, 2024

China, Russia collaborate to explore safe military use of AI

China and Russia will be exchanging assessments on military use cases for AI focused on safety within international best practices.

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,...

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