- The Digital Ruble CBDC is scheduled for launch by July 2025, with Sberbank involved in pilot testing
- The Digital Ruble will work alongside traditional cash, ensuring a smooth transition for users
- Russia is becoming more open to cryptocurrency, with plans to use it for official trade settlements
Given Russia’s apparent seriousness about its digital ruble, the largest bank, Sberbank, has let slip that customers may finally begin to use the new CBDC as early as 2025. And with tests involving thousands of people and businesses, this official launch looks closer than ever.
Russia’s Digital Ruble Progress and Testing Updates
According to various reports, it now seems that Sberbank, the largest bank in Russia, has inadvertently leaked an important detail relating to the country’s CBDC.
Anatoly Popov, Sberbank Deputy General Director, is reported to have stated that the bank is already engaged in testing the digital ruble, adding that CBDC operations with clients will begin in 2025.
In a few months, the Central Bank Digital Currency of Russia could be in free circulation. Such a statement seems to align with Sberbank’s plans for the CBDC, as it is preparing to introduce the digital ruble into its services.
In September 2024, the Central Bank of Russia extended its tests to as many as 9,000 people and 1,200 companies. That’s a significant leap from its earlier test, which was restricted to just 600 people and 22 companies. Given this expanded test, one can confidently say that the new digital ruble may come into circulation quite soon in its CBDC form.
Russia’s CBDC Launch Timeline and Crypto Sector Openness
It appears that the expected launch date for the digital ruble in its CBDC form is set for July 2025. The Central Bank of Russia has stated that the new CBDC will not replace cash but will complement it. This approach will allow users to experience changes and new developments more smoothly.
At the same time, Russia has proven to be more open toward the entire crypto sector. In fact, several days ago, there was an announcement that the country could soon use cryptocurrencies as official currencies for commercial transactions within the country.
Conclusion
With the digital ruble coming in 2025, Russia is about to enter the world of full digital currencies. The future of financial transactions will change and might bring interesting developments in openness toward cryptocurrencies for the entire crypto sector.
