MOSCOW, December 29. /TASS/. The digital ruble has significant potential, and the Bank of Russia together with the market continues to explore areas where it can be applied most effectively, Director of the Central Bank’s National Payment System Department Alla Bakina said in an interview with TASS.
"There are very few countries in the world that are as prepared to work with a central bank digital currency as we are. We are among the leaders, and our digital national currency has great potential. Together with market participants, we are identifying and discovering areas where the capabilities of the digital ruble can be used to best effect. First and foremost, this is smart contracts. The second area is budgetary payments, and the third is cross-border mechanisms," Bakina said.
According to the Central Bank’s estimates, following its large-scale rollout in 2026, the digital ruble could account for up to 5% of the volume of cashless payments over a seven-year horizon.
Speaking more broadly about new areas, the head of the Central Bank department noted that the regulator constantly monitors global trends. "The issue is not so much that we need something that does not yet exist. Rather, it is about ensuring that each instrument has its own niche," she said.