Russian State Duma official: International CBDC settlement will become the "norm" within 5 years

Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian State Duma, predicts that international trade will shift to CBDC for settlement within the next five years. Aksakov emphasized that there are not many countries that have made progress using these digital currencies, but he believes that this issue will soon be resolved.

Aksakov explained that although the technical solutions in this area are still unavailable, CBDC will become the norm for these transactions.

Aksakov also provided insight into how Russia will use the upcoming CBDC (digital ruble) as part of its trade with friendly countries. He claimed that the digital ruble may be used for international payments as early as next year and will undergo the first batch of settlements, but not in the first half of the year.