The Russian government and central bank have successfully trialed the digital ruble in budget settlements

2025-01-29 16:02:38

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ChainCatcher news, the Russian government and the central bank announced the successful trial of the digital ruble in budget settlements. The central bank and the Ministry of Finance had conducted closed-door tests of the digital ruble's budget operations by the end of 2024.

According to reports, despite opposition from the country's commercial banking sector, the central bank still hopes to launch the currency in early July this year, stating that testing "is ongoing," but did not disclose any details about the pilot "budget" transactions.

The Ministry of Finance stated that there are currently no plans to use the digital ruble to pay government funds to citizens and has repeatedly mentioned the use of the digital ruble to "ensure the targeted use of budget funds."

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Russian government digital ruble

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