【The Central Bank of Russia Announces Digital Ruble Business Model, Local Banks Express Dissatisfaction Due to Concerns Over Deposit Outflows and High Deployment Costs】Golden Finance reported that the Central Bank of Russia recently shared its Central Bank Digital Currency (CBDC) business model. By the end of 2025, all digital ruble transactions will be free, with the first batch of 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 potential outflows of bank deposits and excessively high deployment costs. It is reported that the Central Bank of Russia does not intend to restrict the holding of CBDCs. According to Info24, ABR Chairman Anatoly Kozlachkov stated that the establishment cost for each bank is about 100 million rubles (1 million USD), whereas some banks have a capital of only 3 million USD.
