MOSCOW, October 30. /TASS/. The role of the digital ruble in international trade will be significant because its use will make it possible to reduce costs and risks of foreign trade operations, Russian Deputy Finance Minister Aleksey Moiseev said at the International Customs Forum.

"Why I believe the digital ruble will take a significant role [in international trade - TASS]. Firstly costs for foreign trade participants will decline dramatically. Secondly, risks related to unfair behavior of financial counterparties and actually trade counterparties also will cardinally go down. These two factors - from my point of view will eventually lead to a rather significant role of the digital ruble in international trade," Moiseev said.

The use of digital currencies of central banks and the digital ruble in particular will only be possible after standardization of digital currencies and methods of their use. The work in this regard is at the initial stage only so far, Moiseev added.

The Bank of Russia and the group of banks started testing operations with the digital ruble on August 15.