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Bank of Russia plans to take fees for CBDC transactions: Report
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The Russian central bank continues to disclose more details about its upcoming digital currency and is now reportedly planning to take commissions for the digital ruble transactions.
The fees for Russia’s central bank digital currency (CBDC) transactions will be lower than those of wire transfers, Bank of Russia’s director of financial technologies department Kirill Pronin reportedly said.
Pronin elaborated that the CBDC transactions’ commissions will not be higher than those implemented within Russia’s Faster Payments System (FPS), a service that lets individuals make instant interbank transfers, the local publication Prime reported Wednesday.
The FPS system was launched in 2019, allowing users to transfer up to 100,000 rubles ($1,360) with
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