Russia ‘Will Use Digital Ruble in LATAM’ by 2025

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By BitcoinWiki News

Key Takeaways:

– Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Markets, says Russian firms will be using the digital ruble (CBDC) in Latin America by 2025.
– Aksakov believes the digital ruble will enter the international arena in 2025 and could be used for mutual settlements with Latin American countries.
– Aksakov appeals to Latin American central bankers to collaborate with Russia on CBDC-related matters.
– The digital ruble pilot is expected to expand next year and be fully rolled out by early 2025.
– Western sanctions have led Russian leaders to explore alternatives to USD-denominated trade, including CBDCs and cryptocurrencies.
– Aksakov has previously suggested compatibility between Russia’s digital ruble and China’s digital yuan.
– Aksakov has also advocated for lifting buying caps on digital ruble holdings for overseas buyers.


The Chairman of the State Duma Committee on the Financial Markets, Anatoly Aksakov, has stated that the digital ruble, Russia’s central bank digital currency (CBDC), will be used by domestic firms in Latin America by 2025. Aksakov made these remarks at a Moscow-based summit called “Russia – Latin America,” where he called on Latin American central bankers to establish closer ties with Moscow regarding CBDC-related matters. He further expressed Russia’s willingness to share its blockchain technology and development capabilities. Aksakov expects the digital ruble pilot to expand next year and be fully rolled out in early 2025. The Central Bank had previously suggested a CBDC rollout between 2025 and 2027. Russian business leaders and politicians have been exploring alternatives to USD-denominated trade, such as CBDC, a BRICS digital currency, and cryptocurrency-powered trading, due to continued Western sanctions impeding Russian trade efforts. Aksakov has been actively involved in Russia’s crypto and digital assets legislation and has expressed optimism about the digital ruble’s compatibility with China’s digital yuan. He also proposed lifting buying caps on digital ruble holdings for overseas buyers, enabling non-Russians to buy millions of digital tokens.

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