Sourced fact
The News
According to Anadolu Agency, Russia has started testing the digital ruble with banks and retailers to reduce reliance on payment intermediaries.
Analysis & context
Analysis & Context
Analytically, the launch of the digital ruble in Russia is a significant step towards transitioning to modern financial technology. Russia aims to strengthen its control over the national payment and digital economy system, and to assert leadership in the field of digital currencies. In a broader context, this announcement follows efforts by many other countries to develop government digital currencies, reflecting a global shift towards digital payments.
Major banks, retailers to start processing payments and transfers as Moscow seeks to reduce reliance on intermediaries
