Russia's banks and major retailers have finished preparing for the broad rollout of the digital ruble, Bank of Russia Governor Elvira Nabiullina said on Wednesday.
According to state-run media TASS, Nabiullina said during a briefing at the Bank of Russia Financial Congress that systemically important banks and large domestic enterprises are technologically prepared to connect with and accept the digital currency.
The central bank governor said they are considering letting commercial banks host digital ruble wallets on their balance sheets, instead of restricting them to the regulator.
"We want the digital ruble to be genuinely in demand by people and businesses, to be convenient," Nabiullina said. "And, of course, we will continue to develop [the project]."
The banks classified as systemically important are expected to begin offering the Russian CBDC to clients starting September 1, according to the report.
