Russia to start using CBDC for cross-border payments in 2025

Russia plans to use digital rubles for the first cross-border payment in the second half of 2025. Anatoly Aksakov, Chairman of the Financial Market Committee of the State Duma of Russia, said that transactions with China or Belarus' central bank digital currencies (CBDC) are being considered. "Fundamentally, few countries have made significant progress in using national digital currencies. That's why technically, they're not ready to launch digital currencies when settling with other countries. However, I believe that within five years, this will become a common practice."