According to the local Russian media “Kommersant”, the plan to promote the Russian digital ruble is expected to be introduced in the first quarter of 2023, and the Central Bank of Russia considers two possible cross-border settlement models.
The first of 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 model, more complex, provides Russia with a single hub-like platform to interact with other countries, sharing common protocols and standards to facilitate payments between connected countries.