The Central Bank of Russia has published a consultation paper on the concept of a national digital infrastructure (NDI) for the financial market, seeking input on the criteria it should use when deciding whether and how the regulator should participate in creating NDI components. The concept covers three digitalisation areas: identification, payments, and data exchange, with development potentially shared between government and businesses. The paper asks who should create services for households and businesses and on what terms, how responsibilities should be divided between the government and market participants in developing NDI components, what rules and criteria should be applied when deciding whether components should be created by the government or by market participants, and under what conditions previously created NDI components could be transferred to market participants. Comments and suggestions are invited through 31 October 2025. The NDI will be a key topic at the Finopolis 2025 Forum of Innovative Financial Technologies in Sirius Federal Territory on 8–10 October.
Central Bank of Russia 2025-09-24
Central Bank of Russia launches consultation on criteria for regulator involvement in national digital infrastructure for the financial market
The Central Bank of Russia released a consultation paper on a national digital infrastructure (NDI) for the financial market, focusing on identification, payments, and data exchange. The paper seeks input on criteria for government and market participant roles in NDI development and potential transfer of components to market participants. The NDI will be discussed at the Finopolis 2025 Forum in October.