Digital Ruble ‘Promising,’ Pilot Likely in 2021, Says Bank of Russia Chief
The Bank of Russia might launch its own CBDC, a digital ruble, after piloting the project at the end of next year, its chairwoman said.
Some telcos are looking at developing a digital wallet that would link the digital currency to users' mobile phone numbers.
Russian banks are concerned the digital ruble might hurt their business, but the Bank of Russia is nonchalant
Banks had feared being drained of liquidity under the original concept for the digital currency.
A Russian cryptocurrency and blockchain association warns the Bank of Russia against centralizing the digital ruble.
Russian banks and financial brokers are worried the digital ruble will be a burden for them.