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Bank of Russia to develop cross-border digital currency transfers

It is reported that the Bank of Russia will start phased connection of all credit institutions to the digital ruble platform in 2024

MOSCOW, August 12. /TASS/. The Bank of Russia will cooperate with countries developing their digital currencies for cross-border and currency exchange operations, according to draft guidelines of the state monetary policy for 2023 and the period of 2024 and 2025.

"The Bank of Russia will collaborate with other central banks developing their own digital currencies for cross-border and currency exchange transactions with digital currencies," the guidelines indicate.

In 2024, the Bank of Russia will start phased connection of all credit institutions to the digital ruble platform and increase the number of available options of payments and operations with the use of smart contracts.