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Up to 3% of Russians with bank accounts expected to use digital ruble by 2027 — lawmaker

Some iPhone users are already using the digital ruble, despite connection issues, Anatoly Aksakov added

MOSCOW, September 17. /TASS/. Chairman of the Russian State Duma Committee on Financial Market Anatoly Aksakov expects up to 3% of Russians with bank accounts to be using the digital ruble by the beginning of next year.

"The process is underway. I think up to 3% of bank account users <…> will be using the digital ruble in their daily lives by the beginning of next year," he told TASS.

Some iPhone users are already using the digital ruble, despite connection issues, Aksakov added. "According to information I have, some iPhone users are able to use the digital ruble. However, there are certain difficulties there. <…> We’ll have all this sorted out sometime by the beginning of next year," he said.

The mass rollout of the digital ruble began in Russia on September 1, with major banks and retailers having provided their infrastructure to support it. Individuals can also choose to use the new form of the national currency.

The digital ruble is the third form of Russia’s national currency, alongside cash and non-cash money. It is an entirely new technology developed by the Bank of Russia, which represents the next stage in the evolution of cashless payments and transfers.

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