Bank of Russia Confirms September 1 Digital Ruble Launch with Major Banks Ready
By
Sergio Goschenko
Crackling crust, pillowy middle. The kind of bagel that earns a second cup of coffee.
Summary
The Bank of Russia is set to launch the digital ruble on September 1, with top private banks confirmed as ready and connected to provide services. Alla Bakina, Director of the Bank of Russia's National Payment System Department, stated that most private banks are prepared to offer digital ruble services. The CBDC will integrate with Russia's existing universal QR code payment system, marking a significant step in the country's digital currency development while maintaining central bank control over issuance.
Key quotes
· 3 pulledAlla Bakina, Director of the Bank of Russia's National Payment System Department, highlighted that most private banks in Russia are ready to provide digital ruble services on September 1.
The currency will integrate with the existing universal QR code payment system.
While stablecoins have become one of the most relevant applications of blockchain technology, some countries have continued to develop central bank digital currencies (CBDCs), maintaining control over the issuance of these digital alternatives.
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