The Bank of Russia plans to introduce offline payments in digital rubles
Elvira Nabiullina announced the expansion of digital currency functionality, including cross-border transfers
Quick Look
The head of the Bank of Russia, Elvira Nabiullina, announced plans to introduce offline payments in digital rubles using secure SIM cards, as well as prospects for the development of cross-border payments with other countries.
AI-generated summary
Why It Matters
The Bank of Russia is actively implementing the digital ruble platform for settlements.
The Bank of Russia will increase the functionality of the digital ruble, in the near future it plans to try to make payments without the Internet, and in the future cross-border payments are planned, said the head of the regulator, Elvira Nabiullina.
“We will increase the functionality of the digital ruble platform. Our immediate plans are to try offline payments. Now, together with Russian developers of secure SIM cards, we are preparing a solution that will allow a person to pay with digital rubles even where there is no mobile Internet,” she said during a meeting of Russian President Vladimir Putin with members of the government.
What to Watch
AI outlook — possibilities, not facts
Development of a solution for offline payments using secure SIM cards.
Likely · Within months
Open Questions
- When exactly will the offline payments feature be launched?
- With which countries are cross-border payments planned?
