🎉Russia 🇷🇺 to Start Using CBDC for Cross-Border Payments in 2025

🎉Russia 🇷🇺 to Start Using CBDC for Cross-Border Payments in 2025

The first cross-border payments with the digital ruble will take place in the second half of 2025. 13 banks, including VTB, Sber, and Tinkoff, will participate in the trials.

➡️ The chairman of the State Duma's Financial Markets Committee stated that Central Bank transactions in CBDC with China 🇨🇳 or Belarus 🇧🇾 are possible.

➡️ Currently, 30 companies in 11 cities support the digital ruble through VTB, including the Moscow Metro. Additionally, users can transfer funds between their bank account and the digital ruble wallet through VTB's 14,000 ATMs.

➡️ Some experts believe that implementing a CBDC carries the risk of transferring too much power to the Central Bank. If now people still have the choice of how to manage their money, with the introduction of centralized digital currency, everything will come under state control, or rather under the control of a small group of people...
Nevertheless, the Central Bank already has considerable power even without the digital ruble.

#news #Russia