Olga Skorobogatova, first deputy chairman of the Central Bank of Russia, indicated that the launch of the digital ruble, the Russian central bank digital currency (CBDC), could happen in 2025. The pilot test for the CBDC will be organized later this year after the State Duma, the lower house of the Russian parliament, passes the bill regulating the operations of the digital ruble.
Central Bank of Russia Indicates Digital Ruble Could Be Launched in 2025
The Central Bank of Russia expects the digital ruble, a Russian central bank digital currency (CBDC), to be launched as soon as 2025, according to the reports of Olga Skorobogatova, first deputy chairman of the institution. Skorobogatova also stated that a pilot test of the digital currency is expected to take place this year after the State Duma, the lower house of the Russian parliament, passes the digital ruble law.
The official explained the introduction of a digital currency would be a long process for Russia. Skorobogatova stated:
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