By Reuters Staff
2 Min Read
MOSCOW, April 1 (Reuters) - Russia’s central bank on Thursday said it is leaning towards a two-tier system for a digital rouble, with banks opening digital wallets with the regulator and serving as intermediaries for customers and companies.
Large central banks across the world are stepping up efforts to develop digital currencies to modernise financial systems, speed up payments and counter a possible threat from cryptocurrencies.
Russia’s central bank first floated the idea of the digital rouble last October, saying it could be issued on top of existing cash and non-cash roubles to facilitate payments. It has since had to allay fears from banks that the introduction might hurt their profits.
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