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Bank of Russia discusses digital currencies with several countries

The Chairman of the Bank of Russia Elvira Nabiullina said that the mass introduction of the digital ruble could happen in early 2025

MOSCOW, July 19. /TASS/. The Bank of Russia is exploring two scenarios for integrating national digital currencies with a number of countries, Governor of the Bank of Russia Elvira Nabiullina said during a meeting with Russian President Vladimir Putin and the government.

"Many countries are developing their own national digital currencies. We initially built the possibility of cross-border international engagement into the digital ruble platform. Two options are feasible here: interaction between our platform and another country's digital currency platform, and establishing a common settlement center to which digital currency platforms can connect. We are now discussing both options with countries that are willing to collaborate with us," she said.

She added that the mainstream adoption of the digital ruble might happen in early 2025.

On July 11, the Russian State Duma adopted a law creating a base for the introduction of the digital ruble and the implementation of cashless payments using the digital ruble.

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