10:26, 11 June 2021 709 views
Elvira Nabiullina sees digital ruble as future of Russian financial system
As the economy goes online, digital currencies will become the future of financial systems, including the Russian one, said Bank of Russia Governor Elvira Nabiullina. She believes there is a need for fast and non-expensive payment systems, and digital currencies of central banks (CBDC) can fill this gap.
At the same time, the head of the Central Bank of the Russian Federation also emphasized the difficulties associated with the widespread introduction of digital currencies. If each bank creates its own national platform based on local standards, it will be very difficult to create interconnections between such systems to facilitate cross-border payments.