The Central Bank will not forcibly transfer citizens to the Russian digital currency (CBDC). People themselves will decide in what form they should receive pensions, salaries and benefits, Central Bank head Elvira Nabiullina said in April.
This week, in an interview with Forbes, Deputy Governor of the Bank of Russia Olga Skorobogatova said that the cryptoruble is not a stablecoin.
CBDC is an obligation of the Central Bank. The regulator acts not only as the sole issuer of the token, but also as a guarantor of the fulfillment of the state’s obligations to the holders of the digital instrument.
The authorities will not take hasty steps when introducing the cryptoruble into the payment infrastructure. It will take place in several stages from 2025 to 2027. With the help of CBDC, citizens will be able to freely and at minimal cost transfer funds between wallets.
Moreover, Skorobogatov did not rule out that the cryptoruble would become a good alternative to the SWIFT financial information exchange system. Businesses will receive a tool with which they can finance export-import transactions.
The Deputy Chairman of the Central Bank noted:
We plan to conduct transactions on a secure platform that will run smoothly.
