The number of digital ruble accounts at Russia’s central bank topped 220,000 in the first month after launch.
Cointelegraph reported on Oct. 6 that the figure far exceeded an initial Russian official estimate of about 60,000 accounts.
The digital ruble launched on Sept. 1. Reuters reported that Deputy Governor Zulfiya Kahrumanova (줄피야 카흐루마노바) said account openings exceeded 220,000 in just one month, far surpassing official projections. For the central bank, it amounts to a first test of whether the project can expand beyond a pilot into actual use.
The early spread also coincides with BRICS-level discussions on linking digital currencies. BRICS is a consultative group of emerging economies that includes Russia, China and India, and it is reviewing ways to connect member central bank digital currencies (CBDCs) for cross-border payments. Russia appears to be seeking to develop the digital ruble as one pillar of its domestic payment infrastructure and external payment strategy in this 흐름.
After the war in Ukraine, Western sanctions excluded Russia from parts of the global financial system, and payments with key trading partners such as China and India became more complicated. Russia has accelerated development of the digital ruble accordingly. The aim appears to be to reduce reliance on existing payment networks by using digital currency.
At the 18th BRICS summit in New Delhi, India, last month, expanding regional currency settlement and cross-border payment plans linking member CBDCs were discussed as key agenda items. The leaders supported expanding trade settlement based on their national currencies.
Controversy over CBDCs persists. Digital currencies issued by central banks have raised concerns about stronger government surveillance and tighter control of funds. In the United States, a major housing-related bill enacted this year included a provision barring the Federal Reserve from issuing or creating a CBDC until the end of 2030.
In this situation, Russia’s early figures are drawing attention as a case showing whether a CBDC can secure actual users rather than remain a pilot. At the same time, attention is focused on whether the number of accounts leads to real use and whether BRICS cross-border payment linkage develops into actual institutional design.
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