Mobile Network Providers in Russia Considering Smartphone Integration for the Digital Ruble

Mobile network providers in Russia considering smartphone integration for the digital ruble

  • Two of the foremost service providers in Russia are planning to link their subscriber’s mobile numbers to their digital Ruble wallets on their mobile.
  • Brainstorming has begun in MegaFon’s camp on how to get digital ruble to function on users devices.
  • Beeline is also towing the same path as the Bank of Russia is actively ensuring that digital ruble integration runs smoothly.

Izvestia, a Russian news agency, reported that Beeline and MegaFon are looking into the clamour of their user’s craving for a smoother crypto transaction. This caused them to propose to set up the country’s primary digital currency’s free flow through smartphone wallets.

A spokesperson at MegaFon stated that carriers also recommended that some other additions be implemented like linking customers’ personal hotline to their digital wallets. This way, users could store digital rubles seamlessly on their mobile phones. They could also transfer and make digital payment with their smartphones.

Interaction with the Bank of Russia

Reports stated that MegaFon and Beeline are keenly engaging the Russian central bank in deliberations concerning digital ruble. Both companies’ representatives said that they are actively looking into aspects of the digital ruble that deals with the wallet’s maintenance on smartphones. This feature is inclusive of the present digital ruble concept, so this is a massive upgrade. This concept will boost the free flow of peer-to-peer (P2P) business dealings with no need for any liaison institution. The development also supports offline mode.

Olga Skorobogatova, stated in the later parts of the year 2020 that users would have access to digital ruble wallets via the Bank of Russia’s platform.

The first consultation paper that affirmed digital ruble’s development was released in October 2020. It stated that users would have seamless access to digital ruble, online plus offline, on their smartphones.

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