Russian President Vladimir Putin has called for the broad adoption of the digital ruble across various economic sectors, including finance.
This initiative aims to integrate the digital currency more extensively into the country’s economic activities.
During a government meeting on Wednesday focused on economic issues, Putin stated, “We must move to the next step, which is the widespread use of the digital ruble in the economy, in economic activities, and in finance.”
Putin highlighted Russia’s significant progress in developing and regulating digital financial assets.
He emphasized the importance of timely legal and regulatory frameworks to facilitate the development of infrastructure and conditions for trading digital assets, both domestically and in foreign partnerships.
“We have already made substantial progress in this area,” he added.
In July, Putin signed a law launching the digital ruble and its electronic platform in Russia.
The digital ruble is now the third form of the national currency, alongside cash and virtual rubles.
It is primarily designed as another means for payments and transfers, without the capability to open deposits, obtain loans, or accrue interest on balances in digital wallets.
The digital ruble will be stored in electronic wallets and is set to become a fully-fledged means of payment, similar to traditional rubles.
This move is part of Russia’s broader strategy to advance its digital economy and enhance the efficiency and security of financial transactions within the country and with international partners.
