After discussing the launch of the digital ruble with local banks, the country’s financial watchdog says it will present a more detailed concept for the national digital currency by summer.
The head of the Central Bank of Russia, Elvira Nabiullina, said detailed feedback from the banking community was received. In an October report, the regulator introduced the digital ruble as a possible new form of national currency. Most lenders support a two-level model of the digital ruble, which allows banks to open wallets for their clients on the central bank’s platform and conduct operations, said Nabiullina.
She indicated that a public discussion will follow “at the beginning of summer,” prior to launching and testing a special platform, and amending the legislation as required.
Last month Sberbank, on its side, applied to the regulator to set up a blockchain platform for its own digital token called ‘Sbercoin.’ The project could be launched as early as this spring.
While Central Bank prepares plans for ‘digital ruble,’ Sber considers launching its own cryptocurrencyRead More
