Bank of Russia unveils official logo and commission fees for digital currency project

The Bank of Russia has unveiled the official logo for its central bank digital currency (CBDC) project and released commission fee rates that will only exceed zero points in 2025. The logo features an international ruble symbol in a circle and comes in four color combinations. Until the end of 2024, all CBDC services will be free, but starting in 2025, B2B transactions will cost 15 rubles ($0.16) each, while individuals will pay 0.3% of the total transaction sum when transferring to commercial accounts and 0.2% when paying for civil services. The digital ruble bill was signed into law by Russian President Vladimir Putin on July 24, with the CBDC officially scheduled to take effect from Aug. 1, 2023.

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