According to BlockBeats, on November 11, Elvira Nabiullina, Governor of the Bank of Russia, stated at the International Banking Forum that the digital ruble is what Russian citizens need because it will facilitate cheap and reliable payments. She also stated that stablecoins backed by cryptocurrencies and fiat currencies pose risks to financial stability. In addition, Elvira Nabiullina explained that the digital ruble is the third national legal currency after cash and bank currency, and will also have legal tender status, and merchants and organizations must accept it. It is expected that the blueprint of the digital ruble platform will be launched early next year, and a pilot will begin later in 2022 to “test and perfect all aspects of using the digital ruble.”
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