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Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

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Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025
Bank of Russia
Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by this deadline, with smaller institutions following later. The initiative seeks to enhance payment efficiency and reduce costs, with retailers also […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System

Bitcoin.com
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System
Anton Siluanov
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar SystemAnton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national currencies (rubles and yuan) due to the risks associated with executing these using “unfriendly” currencies. Russian Finance […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts

Bitcoin.com
Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts
accounts
Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar AccountsA growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro Accounts Expected to Drop Further, Requests for Yuan […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says

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BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says
bitcoin.com
BRICS Currencies to Have No Alternative, Former Russian President Medvedev SaysFiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said. Ruble, Yuan, Other BRICS Currencies to Take Over […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says

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Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says
Banking system
Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs SaysWithin the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as a political weapon by Washington, the introduction of currencies like the digital yuan, and […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Russian Parliament Votes on Bill Opening Door for Digital Ruble

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Russian Parliament Votes on Bill Opening Door for Digital Ruble
amendments
Russian Parliament Votes on Bill Opening Door for Digital RubleRussian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain

Bitcoin.com
Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain
bank
Russian Bank Issues Bank Guarantee in Chinese Yuan Using BlockchainA bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s Masterchain to Issue Bank Guarantee in Yuan Moscow Credit Bank […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Digital Gold Traded for Digital Rubles by Russia’s Rosbank

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Digital Gold Traded for Digital Rubles by Russia’s Rosbank
Atomyze
Digital Gold Traded for Digital Rubles by Russia’s RosbankRosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking institution stated. Rosbank and Atomyze Exchange Gold and Rubles in Digital […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs

Bitcoin.com
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs
Bank of Russia
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCsThe Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank to Propose Platforms for Digital Currency Payments in Foreign Trade Moving forward with […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization

Bitcoin.com
Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization
bitcoin.com
Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-DollarizationDuring the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan on foreign exchange markets. Roughly around the same […]
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Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

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