The First Deputy Chairman of the Bank of Russia announced at the Financial Congress in St. Petersburg that officials are currently studying the issue of using the digital ruble in settlements with partners from other countries.

According to Olga Skorobogatova, the regulator is ready to implement the project, but it will only be possible to talk about specific dates for the introduction of such payments on the market in 2025:

“We are technically ready for such projects and are currently working with several countries on the procedure for interaction between national digital currency platforms.”

From September 1, the number of participants in the digital ruble pilot project will be expanded tenfold, said the First Deputy Chairman of the Bank of Russia: 19 banks are in line to test the national digital currency.

The high-ranking official added that the Central Bank has received many requests from businessmen who would like to use the digital ruble and are demanding that the project be expanded to all financial institutions in the country.

The regulator has been piloting the digital ruble with real clients since August 2023. Banks are testing the opening and closing of digital wallets of banks and clients, the transfer of digital rubles between individuals, and payment for purchases and services using a QR code.

Earlier, the State Duma began considering a bill according to which the law “On combating the legalization (laundering) of proceeds from crime and the financing of terrorism” would apply to transactions with the digital ruble.