Nabiullina: Russians opened 200 thousand accounts in digital rubles

The Russians opened almost 200 thousand wallets in digital rubles, said the Chairman of the Bank of Russia Elvira Nabiullina. The result, she said, exceeded the expectations of the Central Bank.

The head of the regulator noted that the Central Bank records such figures for the first three weeks of the digital ruble. “That is quite a lot. By the way, we expected that by the end of the year there will be only 60 thousand, that is, there is interest, she said at a meeting of the President with the government. During the three-year testing of the digital ruble in the pilot mode, the Russians got only 5 thousand wallets, Ms. Nabiullina recalled.

Vladimir Putin admitted that the digital ruble has already become a full-fledged payment instrument. He urged the Central Bank to actively explain to the Russians the advantages of a new type of currency. People need to explain in more detail what is the difference between simple non-cash payments and the use of the digital ruble. What are the advantages, what is the difference? Because for an ordinary citizen this is not very clear, he said.

Banks began to massively introduce the third form of the Russian currency from September 1. One digital ruble is equal to one cash or non-cash. You can open an account in it through the application of the bank, which is connected to the project. It is available to clients of 36 credit institutions. By 2029, the Central Bank intends to provide an opportunity in a pilot mode to issue loans and deposits in digital currency.