Bank of Russia: the system of international payments will change

Noting that there will be significant changes in the international payment system, Olga Skorobogatova, Deputy Governor of the Central Bank of Russia, said: “In the future, in 5-7 years, we will see a completely different international payment system based on domestic payments. digital currencies.” saying.

Speaking in the Duma, the lower house of the Russian parliament, Skorobogatova said that work on the digital ruble is ongoing.

SWIFT SYSTEM IS NOT INCLUDED

Noting that the digital ruble will create new opportunities in international payments when it is tested and ready, Skorobogatova said: “In this way, we will be able to directly contact regulators that offer digital currencies. In this case, we will not include the SWIFT system in any way.” he said.

Noting that they expect significant changes in the international payment system, Skorobogatova said: “In the future, in 5-7 years, we will see a completely different international payment system based on national digital currencies.” she said.

While Western countries imposed sanctions on the Central Bank of Russia and many of the country’s major banks, these banks were also removed from the financial messaging service SWIFT system. (AA)