• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Delay in Russia's Digital Ruble Launch Tied to Technical Challenges

user avatar

by Giorgi Kostiuk

8 months ago


Russia plans to advance the digital ruble as part of its financial system modernization and de-dollarization strategy. However, the Ministry of Industry and Trade has suggested postponing this launch by two years due to several technical and operational challenges.

Proposal for Delay

The introduction of the digital ruble in Russia faces significant challenges. The Ministry of Industry and Trade has proposed a two-year delay in the rollout of the central bank digital currency (CBDC). This request stems from concerns over unprepared infrastructure and potential disruptions to businesses, especially in the retail sector.

clear operational parameters

De-dollarization Strategy

The initiative to implement the digital ruble is part of Russia's broader strategy to de-dollarize its economy. By reducing reliance on the US dollar, Russia aims to insulate itself from economic sanctions and promote alternatives for international transactions, particularly within the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa.

International and Domestic Challenges

Among BRICS countries, despite support from China, there are significant discrepancies in economic priorities. For instance, India maintains strong economic ties with the US and holds substantial reserves in dollars, undermining a unified approach to achieve shared goals like CBDC adoption. Globally, the adoption of CBDCs also faces technical hurdles, privacy concerns, and low public trust.

The proposed digital ruble could be transformative for Russia, but its success depends on overcoming domestic and international barriers. To achieve its goals, the country must balance its aspirations for financial innovation with the practical realities of implementation.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk

Bit Digital Makes $67.3 Million Ethereum Purchase, Strengthening Its Holdings

chest

Bit Digital invests $67.3 million in Ethereum, raising total holdings to nearly 120,306 coins.

user avatarGiorgi Kostiuk

Block Inc. Joins S&P 500, Replacing Hess Corp.

chest

Block Inc. will replace Hess Corp. in the S&P 500, potentially impacting Bitcoin's acceptance by institutional investors.

user avatarGiorgi Kostiuk

XRP Sets New Record Following Legislative Changes

chest

XRP hit $3.66, surpassing previous records due to increased investor interest and the expected signing of the GENIUS Act.

user avatarGiorgi Kostiuk

MEI Pharma and Litecoin: New $100 Million Treasury Strategy

chest

MEI Pharma has announced a $100 million treasury strategy with Litecoin, led by Litecoin creator Charlie Lee. Market reaction was volatile.

user avatarGiorgi Kostiuk

Merkel Urges for a Cohesive EU Response to US Tariffs

chest

Merkel calls for EU unity in response to US tariffs that may disrupt trade chains.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.