Russian Government Successfully Tests Digital Ruble in Budget Process
The Russian government and central bank reported that they successfully tested the CBDC for budget settlements. Apparently, the officials revealed the news one month after the actual trials. The Russian Finance Minister Anton Siluanov has been planning to test and launch the digital ruble for more than a year.
The Russian Ministry of Finance stated that the testing process is going on and revealed no further details. Also, they do not seem to have any plans to make government payments to the local population in CBDCs. As per the previous statements made by Anton Siluanov, they deem the CBDC to be useful for budget funds
Russia Plans to Launch Digital Ruble in 2025
As per the head of the State Duma Committee on Financial Markets Anatoly Aksakov, the digital ruble could make its debut in Chuvashia. Also, credit institutions in the country will be able to use CBDC transactions from July 2025
