Russia may launch a digital ruble plan in the first quarter and establish a CBDC cross-border settlement system

According to local Russian media Kommersant, plans to advance the Russian digital ruble are expected to be launched in the first quarter of 2023, and the Russian central bank will study two possible cross-border settlement models. The first of these proposed models sees individual countries entering into separate bilateral agreements with Russia to integrate their CBDC systems, each of which would ensure that asset conversions and transfers between countries comply with the rules of the agreement; the second, more complex The model provides Russia with a single hub-like platform to interact with other countries, sharing common protocols and standards to facilitate payments between connected countries.