Russia has used its central bank digital currency for the first time to fund construction linked to the Moscow Metro, ahead of a nationwide digital ruble rollout on September 1.
Officials said one of the country’s largest banks oversaw a government contract in which Moscow’s engineering arm paid contractors using the digital ruble, marking a national first.
“The introduction of the digital ruble into the financial and economic activities of Moscow city bodies will continue,”
Said Moscow deputy mayor, Maria Bagreeva, adding that authorities expect payment volumes to rise.
The transaction was coordinated by VTB Bank and involved Mosinzhproekt, the Moscow government’s construction and engineering company, though the payment amount was not disclosed.
Russian officials say the digital ruble’s smart contract features could help reduce fraud and corruption in public procurement, welfare payments and other government spending.
The Moscow Metro has increasingly become a testing ground for the CBDC, with earlier pilots allowing residents to top up Troika transport cards using digital rubles.