Russians open 220000 digital rouble accounts

Russians have opened more than 220000 digital rouble accounts since the September launch. The central bank says adoption has exceeded initial expectations despite some skepticism.

FILE PHOTO: A customer holds Russian rouble banknotes before making a purchase at a grocery store in the Siberian city of Omsk, Russia, December 13, 2024. REUTERS/Alexey Malgavko/File Photo

Russia opened more than 220,000 digital rouble accounts in the first month following its September 1 launch, surpassing central bank projections by 266%. Officials expected approximately 60,000 accounts during the initial rollout despite public skepticism and pushback from commercial lenders. The rapid adoption marks a key step in Moscow's broader efforts to develop national digital currencies alongside BRICS partners China and India to bypass Western payment networks.

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