Bank of Russia says digital ruble launch proceeded as planned

The Bank of Russia's launch of the digital ruble went in line with plan, according to central bank Governor Elvira Nabiullina, in a report from Russian state news agency TASS.

Nabiullina said the introduction of the digital ruble gives citizens and businesses a new, additional tool for making payments and settlements, positioning the launch as an expansion of options available within Russia's financial system rather than a replacement for existing forms of currency.

The digital ruble is Russia's central bank digital currency, part of a broader global trend of central banks exploring and piloting their own digital currencies. Proponents of central bank digital currencies argue they can improve payment efficiency and financial inclusion, while critics have raised concerns in various countries about privacy and the degree of state oversight such systems could enable.

Russia has pursued the digital ruble project for several years, running pilot programs with select banks and users before moving toward a wider rollout.

TASS's report did not provide specific adoption figures or transaction volumes since the launch.