The Bank of Russia will begin connecting all banks and credit institutions in 2024.
The Bank of Russia is planning the roll-out of the digital ruble, its central bank digital currency (CBDC), in 2024. Prior to its launch, the central bank will be involved in conducting trials for customer-to-customer, customer-to-business, as well as business-to-customer transactions.
2024 will also probably be the year of presidential elections in Russia in which Vladimir Putin has the constitutional right to get elected again. Before that, in 2023, the Russian central bank will conduct beta testing of digital ruble-based smart contracts. The CBDC program will be rolled out in a gradual manner with more features, including the introduction of offline digital ruble transactions by 2025, to be added year by year.