Russia delays the launch of digital ruble. Central Bank announces postponement until tests and agreements are completed. Digital ruble will not replace cash.
The Central Bank of Russia has announced the postponement of the widespread launch of the digital ruble until the completion of tests and agreement with banks on the economic model. Elvira Nabiullina, the head of the Central Bank of Russia, stated that the new launch date will be announced after finalizing the details in the trial phase and consulting with banks. The experimental digital ruble project started in August 2023 with the participation of 600 employees from 12 banks and includes testing digital wallets, peer-to-peer payments, and automatic payments. The Central Bank has emphasized that the digital ruble will not replace cash.
