The Bank of Russia reported that in the first month after the September 1 launch of the digital ruble, more than 220,000 accounts were opened—almost four times the roughly 60,000 expected.

The early results are testing the hypothesis of whether central bank digital currencies can move beyond pilot projects and achieve real-world adoption.

BRICS Discusses Linking CBDCs for Cross-Border Payments

The launch comes as BRICS countries discuss ways to connect national digital currencies for trade and international payments. At the bloc’s 18th summit in New Delhi, leaders supported expanding settlements in national currencies and developing a CBDC link for cross-border transfers.

Sanctions Accelerated Digital Ruble Development

Russia accelerated work on the digital ruble after sanctions limited access to parts of the global financial system and complicated transactions with key trading partners, including China and India.

US Bans Fed CBDC Issuance Until 2030

In the United States, a major housing law passed this year includes a provision that prohibits the Federal Reserve from issuing or creating its own CBDC until the end of 2030.