Russia’s digital ruble accounts top 220K in first month, nearly 4X central bank forecast
Summary
Russia’s digital ruble opened more than 220,000 accounts in its first month after launching Sept. 1, far above the central bank’s forecast of about 60,000. Russia accelerated the project after Western sanctions complicated its access to global finance and payments with trading partners. BRICS members are also exploring links between their CBDCs to support cross-border payments and local-currency trade. The rollout comes amid debate over CBDCs’ potential for government surveillance and centralized control; U.S. law bars the Federal Reserve from issuing a CBDC through 2030.
