Moscow Mayor Sergey Sobyanin and the First Deputy Chairman of the Bank of Russia, Olga Skorobogatova, have signed a cooperation agreement to develop the digital ruble platform as part of the SPIEF-2024. This was reported by TASS.
Following the widespread adoption of the national CBDC, passengers will be able to pay for all types of public transport and parking in the capital using digital rubles.
The agreement also includes the signing of Russia’s first smart contract for insuring urban transport rolling stock.
Previously, the Moscow Metro, in collaboration with VTB Bank, joined the testing of the digital ruble. A special account was opened on the Bank of Russia’s platform for conducting transactions.
The law on the national digital currency came into effect on August 1, 2023.
In the same month, testing of the CBDC for individuals and businesses in Russia began with the participation of 13 banks. Later, the number of participants expanded to 30.
Russian citizens will have the opportunity to widely use the new payment method between 2025 and 2027.
In December, the State Duma passed a law providing for the integration of the digital ruble into the tax regulation and control system.