The proposed digital ruble is positioned to begin playing a role on the international stage by 2025, with potential applications in mutual agreements with Latin American partners. This outlook emerged from discussions at the Russia – Latin America conference, where Anatoly Aksakov, the head of the State Duma Financial Market Committee, shared the forecast. Aksakov noted that the digital currency would undergo testing for about a year, with the process spanning the remainder of the current year and the next. He expressed confidence that in 2025 the digital ruble would participate in international financial activity, and that Latin American companies could use it within bilateral accords or agreements.
During the remarks, Aksakov emphasized Russia’s readiness to share its blockchain experience to help broaden the circulation of digital financial assets. He described the development of correspondent relationships between Russian banks and foreign banks, including those in Latin America, as a means to circumvent certain sanctions, a topic that has drawn attention in policy and financial circles.
In addition, the deputy invited banks from Latin American nations to engage in foreign exchange trading on the Moscow Stock Exchange. He observed that the exchange is currently dominated by dollars and euros, suggesting that the digital ruble could alter the landscape of cross-border trading and settlement.
This initiative follows the Central Bank’s announcement about testing digital ruble transfers between enterprises, signaling a broader experimentation phase as authorities assess practical use cases for corporate settlements.
Overall, the discussion points toward a period of accelerated investigation into how a digital ruble might function beyond Russia’s borders, potentially enabling smoother cross-border payments with Latin American partners. The ongoing tests and policy dialogue indicate a strategic focus on integrating digital assets into existing financial infrastructures while monitoring regulatory implications and international cooperation.