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Digital Ruble Rollout Will Cost Russian Banks $536m a Year – Experts

Digital ruble rollout plans could cost the Russian banking sector a total of $536 million per year, financial analysts have claimed. As Per Forbes Russia, the nation’s retail sector could be in for a windfall if CBDC adoption plans go ahead as planned. The Central Bank Governor Elvira Nabiullina last week confirmed that the digital ruble will roll out “no earlier” than 2025. This comes after the Finance Ministry suggested that “all” Russians would have the chance to use the CBDC at some point this year. The experts said that the token would “partially take away” market share from bank card payments. And within three to five years of “full-scale” adoption efforts, banks could start feeling the losses. 

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