Russian banks are reportedly “fighting back” against the digital ruble amid claims a CBDC launch would cost them $684 million a year. Per a report from Comnews, even the Central Bank’s commercial bank partners are “looking for ways” to “avoid” dealing with the coin and “preserve” the banking status quo. The report pointed to a development from VTB Bank, which this month announced a new solution that lets CBDC owners convert their tokens to cash at ATMs. The solution will initially allow digital ruble holders to swap their coins for cash at some 14,000 VTB ATMs nationwide. The media outlet called the development a “commercial bank vaccine” against the digital ruble.
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