Digital Ruble Attracts 270,000 Users

Elvira Nabiullina, the head of the Central Bank of Russia, announced that the digital ruble has gained more interest than expected, reaching 270,000 open accounts. As of September 11, 87,000 users had opened accounts, including 15,000 accounts by legal entities. Nabiullina noted that small and medium-sized enterprises and individual entrepreneurs are showing significant interest in the new opportunities offered by the digital ruble. The Central Bank plans to develop the project by introducing new services, including a subscription service that is set to launch at the end of November. Next year, tests for offline payments and new services for businesses are planned. The Ministry of Finance confirmed that employees can receive salaries in digital rubles, which is available to all citizens of Russia. Anatoly Aksakov from the State Duma pointed out the possibility of linking the digital ruble with fiat banking systems, which would allow withdrawals from ATMs. However, the CBDC model raises concerns about user privacy, enabling authorities to track spending.

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