Russia to Work With Digital Currencies
The system underlying the creation and circulation of Russia’s CBDC may be compatible with other countries’ digital legal tenders, according to representatives of Russia’s monetary policy regulator this week.
Speaking with Russian lawmakers, central bank officials stated that the matter is still being worked out, but that various models for interaction between the digital ruble and other CBDCs are being developed.
The alternatives include establishing two-way integration with each of the other CBDC platforms or launching an international digital platform that would allow multiple issuers’ digital currencies to interact at the same time.
(With inputs from Shikha Singh)
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