Russia will launch the digital ruble project in the first quarter and begin developing a CBDC cross-border settlement system
According to ChainCatcher news, local Russian media Kommersant reported that the plan for the digital ruble is expected to be introduced in the first quarter of 2023. The Central Bank of Russia will explore two possible cross-border settlement models: the first model involves each country signing separate bilateral agreements with Russia to integrate their CBDC systems, with each agreement ensuring that asset conversion and transfer between countries comply with the rules of the agreement; the second model involves Russia providing a central platform for interaction with other countries, sharing common agreements and standards to facilitate payments between connected countries. (Cointelegraph)