The Central Bank of Russia said that the digital ruble could be an additional form of money besides cash and cashless methods.
Russian financial authorities confirmed the government's alleged plans to issue the central bank's digital currency, or CBDC. On October 13, the Bank of Russia issued an advisory paper on the development of the digital Russian ruble.
and the Central Bank stated in the statement that the creation of the digital currency project for the Russian Central Bank will require the creation of an additional payment infrastructure.
The bank also added that the digital ruble will have all the properties necessary to perform the functions of money.
The bank also indicated that the timing of the project will be determined by the authorities in the near future.
According to the bank, users will have access to the digital ruble in their e-wallets and mobile devices, and it will be available for both online and offline use.
where the bank stated that the digital ruble will complement monetary circulation and will be used simultaneously with cash rubles and the money of residents and companies in accounts with commercial banks.
