Beeline and MegaFon propose crypto wallet for Russia’s digital ruble

Electronic wallet Beeline and mobile phone operator MegaFon have proposed working together with Russia’s central financial institution to create a cryptocurrency wallet ready for a consumer rollout.

According to local media reports, the wallet could potentially be linked to a consumer's phone number, facilitating mobile and digital payments.

With the digital ruble little more than a rumor now, companies have been showing interest in being among the early adopters and facilitators of the currency.

Originally, the central bank claimed that it would be in control of the wallets, and not private companies.

The digital ruble was proposed back in October 2020 as a way to decentralize Russia's monetary policy from the rest of the world and add more transparency in the country's financial system.

Cryptocurrencies are going mainstream with numerous payment methods around the world. Apple Pay, PayPal and MasterCard have all vowed support for cryptocurrencies in recent days, weeks and months.

Mainstream investors have also been piling on cryptocurrencies, with Morgan Stanley's $150bn investment vessel rumored to consider buying in Bitcoin, weeks after Tesla invested $1.5bn. Meanwhile, a growing number of casino players are choosing BTC as their go-to currency.

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Written by Alex


Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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