Digital Ruble Era Launches as Russia’s Biggest Bank Signs On
Russia’s largest bank, Sberbank, along with Tinkoff Bank (Tbank) and Tochka Bank, has joined the digital ruble pilot, boosting the momentum of Russia’s central bank digital currency (CBDC) initiative.
Launched in August 2023 with 12 banks, the program now includes 15, with plans to reach 22 institutions by 2025. The pilot tests real-world transactions, paving the way for wider digital ruble adoption by July 2025, when banks must enable digital ruble transactions or face penalties.
This move signals Russia’s push to modernize its financial system and enhance transaction efficiency through digital currency.
Clever Robot News Desk 31th December 2024
