BackRussians opened more than 220 thousand accounts in digital rubles in a month
Russians opened more than 220 thousand accounts in digital rubles in a month
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Лента.ру1 hour agoBusiness1 min readRussiaView original

Russians opened more than 220 thousand accounts in digital rubles in a month

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  • Russians opened more than 220 thousand accounts in digital rubles in a month, which significantly exceeded the expectations of the Central Bank.
  • About 150 thousand transactions were carried out on the platform, and the daily increase in new accounts stabilized at the level of 3-5 thousand.

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Why It Matters

In Russia, a phased mass launch of the digital ruble began on September 1.

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Over the course of a month, Russians opened more than 220 thousand accounts in digital rubles, of which about 10 thousand were for legal entities and another approximately 1.5 thousand for individual entrepreneurs. This was stated by Deputy Chairman of the Central Bank (CB) of the Russian Federation Zulfiya Kakhrumanova, who was quoted by Interfax.

From the words of the deputy chairman of the Central Bank it follows that this figure significantly exceeded the regulator’s expectations of 60 thousand, which were formed on the basis of statistics on the launch of the fast payment system (FPS). “We focused on similar numbers and made some adjustments to the fact that the client path was changing. After all, the Fast Payment System is simply a matter of choosing a transfer via SBP or payment via SBP in your mobile application, but here you still need to open a digital ruble account,” she shared.

In an interview with KP.RU, Kakhrumanova clarified that the rate of opening new digital accounts has now stabilized at the level of 3-5 thousand per day, and in total about 150 thousand transactions were carried out on the digital ruble platform.

In Russia, on September 1, a phased mass launch of the digital ruble began, the use of which has become available to every citizen. In particular, they will be able to pay for purchases in large retail chains. According to the head of the Central Bank, Elvira Nabiullina, in the first ten days of the month, 87 thousand accounts were opened and more than 50 thousand transactions were carried out.

Open Questions

  • What will be the growth rate of account openings in the long term?
  • How will commercial banks react to scaling the platform?

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This article was originally published by Лента.ру.

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