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Russia Unveils Digital Ruble on September 1 Amid Crypto Ban

Guavy AI Editorial Team
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Russia's central bank is introducing its digital ruble on September 1, marking a significant step in promoting state-supported currency for daily transactions. Telecom giants MTS, Rostelecom, and MegaFon have confirmed they will accept the digital ruble through their payment systems.

Wildberries and Ozon, two of Russia's largest online marketplaces, will also begin accepting the digital ruble starting September 1 in a 'test mode'. According to Central Bank Governor Elvira Nabiullina, 'technologically, everything is ready' for the rollout.

The digital ruble will be processed through existing banking apps, with no fees charged to individuals. The Central Bank plans to cap monthly top-ups at 300,000 rubles per bank.

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