Russia to Launch Digital Ruble by 2030
The digital ruble as a third form of money will be launched in Russia by 2030, as stated in the “Strategy for the development of the financial market of Russia,” developed by the Ministry of Finance and the Bank of Russia. According to the document:
“One of the key projects in the field of digitalization in the future until 2030 will be the launch of the digital ruble – the third form of money issued by the Bank of Russia and which is its obligation.”
The authors of the strategy emphasized the introduction of the digital ruble will contribute to the further development of the country’s payment infrastructure, increase competition and the spread of new innovative financial instruments, as well as increase the availability and reduce the cost of services for citizens and businesses.
We should remember that the head of the Ministry of Finance of the Russian Federation, Anton Siluanov, said in March that “green” technologies, digitalization and cryptocurrencies will become the main trends in the development strategy of the Russian financial market by 2030.”