The digital ruble will simplify international money transfers and increase the transparency of settlements, according to Russia’s Finance Minister Anton Siluanov. This was reported by сообщает РИА Новости.
The official pointed to the timeliness of developing an alternative asset.
“We are in step with other countries. The digital ruble reduces costs of transactions, payroll, and settlements. Next, of course, transparency,” said Anton Siluanov.
The minister expressed interest in using the digital ruble for international transactions and attracting investments.
“Let’s see how this topic will develop further. But it seems to me that we should stay in step in this direction,” he noted.
Earlier, the Bank of Russia allowed the possibility of creating a digital ruble in October.
Testing of the asset may begin as early as the end of next year.
Read more about the initiative in ForkLog’s exclusive.
Public accessibility and traceability: how the Bank of Russia sees the digital ruble
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