Digital ruble in Russia may be introduced into circulation as early as 2025

If the digital ruble is successfully tested, its mass introduction will be possible starting July 2025, as the head of the Central Bank, Elvira Nabiullina, stated during her speech at the Federation Council.

"Now I can say that if everything continues to go according to plan, we can move on to the mass introduction of the digital ruble in July 2025. We will target these dates, but this will be a gradual process of using digital rubles," she said

The digital ruble is another national currency introduced by Vladimir Putin's decree. The Bank of Russia intends to issue it as a supplement to the existing ones. This form is a unique electronic code—a token. An essential difference from cryptocurrency is that only the central bank will be the issuer.

Author: Laysan Zakirova