Subject. Models of central bank digital currency (CBDC) and the Bank of Russia’s approach. Objectives. The study aims to analyze central bank currency models being developed in various countries, including Russia. Methods. The research employs general scientific methods of inquiry, along with techniques of comparative analysis, statistical grouping, and data generalization. Results. The study reveals the distinctive features of central bank digital currency models in China, India, Sweden, the Bahamas, the Caribbean region, Nigeria, Canada, the USA, and Russia. It provides an analysis of the digital ruble development project and identifies the advantages of a digital national currency for citizens, society, businesses (in the context of business process implementation), the financial market, and the state. The specific characteristics of the digital ruble are also highlighted. The research identifies potential challenges associated with the roll-out of a digital currency and summarizes the key directions for further implementation of the digital ruble project. Conclusions and Relevance. Global experience demonstrates that central bank digital currency models developed across different countries exhibit distinct features. The primary goals of CBDC implementation include strengthening a country’s monetary sovereignty, enhancing the state’s supervisory functions in the banking sector, improving financial accessibility for citizens, and creating an alternative to traditional payment services. The findings can be leveraged by citizens, businesses, credit institutions, and executive authorities.
Keywords: currency models, central bank, digital ruble, digital wallet, cross-border payments
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