【Central Bank of Russia announces digital ruble business model, local banks express dissatisfaction due to concerns over deposit outflow and high deployment costs】Golden Finance reports that the 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, with the first banks and merchants expected to go live on July 1. The central bank plans to earn fees by operating the system. Meanwhile, at a hearing held last week in the State Duma of Russia, the Association of Russian Banks (ABR) expressed dissatisfaction. They are concerned about the potential outflow of bank deposits and the high deployment costs. It is reported that the Central Bank of Russia does not intend to limit the holding of CBDC. According to Info24, ABR President Anatoly Kozlachkov stated that the establishment cost for each bank is about 100 million rubles (1 million USD), while some banks have a capital of only 3 million USD.

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