Russian President Vladimir Putin signed on Monday a law on the introduction of the digital ruble, which will come into force on August 1.
The digital ruble will be issued alongside Russia's existing fiat currency, the ruble. Users will be able to make transactions with the digital ruble through a new electronic platform that will be operated by the Bank of Russia.
Earlier this month, the Bank of Russia announced it plans to start a "pilot with real digital rubles" in August.
