"We are now developing a digital ruble. The Central Bank of Russia already launched a pilot project this year and will put the digital ruble into circulation by the end of the year after the adoption of the relevant legislation," Siluanov said at the Znanie (Knowledge) Federal Education Marathon.
The use of the the digital ruble in Russia will be voluntary, with citizens able to personally choose between various forms of currency, Russian Central Bank Governor Elvira Nabiullina said last week.
The Bank of Russia is planning to issue a digital ruble as an additional form of Russia's national currency. It will be possible to use the digital ruble offline and for online payments. The regulator will grant access to the digital ruble to all economic agents, including individuals, businesses and the government.