In a recent interview with Forbes, the first deputy governor of the Bank of Russia, Olga Skorobogatova, spoke about her country’s plans for a central bank digital currency (CBDC), diving into the possible international implications of a future digital ruble.
The deputy governor gave details of the current development schedule and said a full launch is not expected until at least 2025. She also spoke about the potential of a BRICS common currency, which members are set to discuss in an upcoming summit.
Although Russia’s CBDC was primarily conceived as a retail tool for domestic payments and transfers, the country has long been interested in cross-border applications to reduce its exposure to the US-led financial system, represented by SWIFT and Western clearinghouses.
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