the Central Bank of Russia will begin to issue digital the ruble and digital currency will be an obligation of the Central Bank. This was announced by the Chairman of the regulator Alexey Zabotkin in interview to the newspaper “Izvestia”.
Digital ruble will be issued in addition to the already existing forms — cash and non-cash rubles.
“When you create a digital platform of the ruble, we expect to use and distributed the registers, and centralized technology. From the technology point of view — it will be a hybrid platform digital of the ruble, created and controlled by the Bank of Russia. The banks and other financial intermediaries will have the opportunity to create and develop additional services to digital the ruble, which will provide tight integration with existing financial products and services,” he explained.
According to Zabotkina, interaction with financial market participants in the dissemination of digital rubles for citizens and legal entities “will depend on the model that will ultimately be selected.” The role involved financial intermediaries will become clear after the model.
the Bank of Russia announced the digital release of the ruble, which shall become the third tender in Russia, in October. The head of the regulator Elvira Nabiullina said that he sees opportunity in the technology start-up in late 2021. Platform for the pilot project for the use of national digital currency could become the Crimea.
