Russia sees first real estate deal settled in digital ruble ahead of full rollout
The post Russia sees first real estate deal settled in digital ruble ahead of full rollout appeared on BitcoinEthereumNews.com.
According to reports, Russia’s first real estate transaction with digital rubles has been carried out in Moscow with a nod from the country’s monetary authority. The news comes two years after the launch of a pilot project for the digital currency, scheduled for full introduction in stages starting a year from now. Russian buys Moscow apartment with digital ruble and QR code A real estate deal using Russia’s digital ruble for settlement has been conducted by majority state-owned bank VTB and a development company called PIK, local media revealed. According to the crypto news outlet Bits.media and Fontaka.ru, a client of VTB Bank has bought an apartment in the Novoe Ochakovo residential complex in the Russian capital, paying for the property in the digital currency issued by the Central Bank of Russia (CBR). The buyer and the real estate developer obtained the financial regulator’s approval in advance, and both opened accounts on the CBR’s digital ruble platform through the VTB Online service. The future owner used a QR code to pay the deposit for the new home in the VTB mobile app, the reports also detailed. VTB described the real estate purchase facilitated by the central bank digital currency (CBDC) as an important step toward creating a modern, safe and efficient financial infrastructure. Alexander Pakhomov, deputy president and chairman of the bank’s management board, is convinced that payments with the Russian coin will help increase transparency and reduce transaction costs. The banker was quoted as stating: “We see the enormous potential of the digital ruble in increasing the transparency of settlements, reducing transaction costs and developing innovative financial services.” Pakhomov emphasized that VTB intends to actively develop its expertise in the field and work with the CBR to further introduce the digital ruble into the nation’s economy. Digital ruble’s full-scale…
Filed under: News - @ August 20, 2025 11:28 am