Russia’s non-cash turnover accounted for 64.2% in Q3 2023

According to a report by Glavportal, as cryptocurrency adoption increases and Russia prepares to launch its CBDC, more and more Russians are refusing cash and opting for "non-cash" payments. In the third quarter of 2023, non-cash turnover accounted for 64.2% of Russia's business, breaking the record of 63.3% set in the first quarter of the 2023 fiscal year. The authors of the study noted a +3.6% increase in the same period of the 2022 fiscal year. The Nenets Autonomous Okrug in the far north ranks first, with nearly 76% of payments made in non-cash form, followed closely by Yakutia and the Chechen Republic in Russia's Far East, with slightly over 75%.