Digital Ruble Expected to Achieve Broad Adoption in 5 to 7 Years, Says Bank of Russia

Elvira Nabiullina, Governor of the Bank of Russia, predicts that the digital ruble will gain widespread acceptance within five to seven years due to its benefits for Russian citizens. 

Speaking at the Federation Council, Nabiullina emphasized that the digital ruble will become a familiar part of daily life, offering advantages such as free transfers for citizens and lower transaction fees for businesses compared to traditional payment methods. 

The digital ruble is currently in an advanced pilot phase, with President Putin’s recent push to accelerate its implementation potentially speeding up its adoption.

Clever Robot News Desk 3rd August 2024

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