The Russian Central Bank announced the business model of the digital ruble. Local banks expressed dissatisfaction due to concerns about deposit outfl

Central Bank of Russia recently shared its business model for the Central Bank Digital Currency (CBDC). By the end of 2025, all digital ruble transactions will be free, and the first batch of banks and merchants are expected to go online on July 1. The central bank plans to earn fees by operating the system.

Meanwhile, at a hearing held in the Russian State Duma last week, the Association of Banks of Russia (ABR) expressed dissatisfaction with this. They are concerned that bank deposits may flow out and deployment costs may be too high. It is reported that the Central Bank of Russia does not intend to limit the amount of CBDC holdings. According to Info24, ABR Chairman Anatoly Kozlachkov said that the establishment cost of each bank is about 100 million rubles ($1 million), while the capital of some banks is only $3 million.