Russia's digital ruble: free transfers, no interest, voluntary use

Russia is rolling out its central bank digital currency (CBDC), the digital ruble, with free transfers and payments but no interest on balances, and usage remains voluntary. The initiative is part of Russia's broader financial modernization and de-dollarization efforts, though adoption and technical implementation remain uncertain. This matters as it could reshape Russia's domestic payments infrastructure and potentially reduce reliance on traditional banking intermediaries.