Yuri Bogdanov, Deputy Chairman of the Board of Directors of Center-invest Bank, spoke at the session: «Piloting the digital ruble. What’s next?» at the Financial Congress of the Bank of Russia in St. Petersburg.
Yury Bogdanov shared the bank’s experience in implementing and integrating the digital ruble into existing business processes ahead of schedule, and the possibilities of this new technology for the economic development of southern Russia
«We call the digital ruble an obedient, automatable ruble, and we strive for it to behave as customers need it to. Currently, with a pilot client group, we are initiating training and testing of the digital ruble. Together, we are gathering suggestions on how the digital ruble can further assist customers — from automated utility payments to managed stages of IPO and accelerating intraregional settlement cycles,» Yury Bogdanov stated during his speech.
Center-invest Bank predicts that the introduction of the digital ruble will automate processes for small and medium-sized businesses related to non-cash settlements. Smart contracts, or conditional payments with conditions, will replace processes that previously required complex document management with multiple sequential confirmations.
Center-invest Bank became a participant in the Bank of Russia’s project for the introduction of the digital ruble in 2023. In 2025, the bank joined the working group on the participation of the Rostov Region in the «Digital Ruble» project. The bank’s experts are working on implementing the digital ruble in the region’s public sector. Closed-loop settlements within the regional budget using the digital ruble can elevate automation, accounting, control, and transparency to a new level. The speed it offers, according to the money circulation formula, can increase the availability of funds for market participants, which is particularly relevant for regions with budget deficits. Participation in the digital ruble pilot will help the Rostov Region gain advanced experience, introduce ahead-of-the-curve development technologies, and enhance the region’s prestige.
Center-invest Bank already possesses experience in organizing such payments. In the mid-1990s, when the country was overwhelmed by non-payment issues, a transparent payment organization scheme using Center-invest Bank’s settlement bills allowed for the settlement of debts across the budget, social sector, energy, and industry, totaling over 700 billion non-denominated rubles.
Today, on a new technical basis and within a new legal framework, Center-invest Bank is ready to use its experience to test the flow of the digital ruble through the Rostov Region’s budget and organize settlements for the bank’s clients.