Key facts
- The Bank of Russia will launch the digital ruble on September 1.
- Most private banks in Russia are ready to offer digital ruble services.
- The digital ruble will integrate with the universal QR code payment system.
Alla Bakina, Director of the Bank of Russia's National Payment System Department, announced that the digital ruble is set to be rolled out on September 1. She stated that the majority of private banks in Russia are prepared to provide services related to the digital ruble. The new digital currency is designed to integrate seamlessly with the existing universal QR code payment system, facilitating its adoption and use within the Russian financial infrastructure.