Population
144M
Online population
127.6M
Currency
RUB
Population - 144M
It is the world's ninth-most populous country and Europe's most populous country.
Internet penetration - 88.2%
There were 127.6M internet users in Russia in January 2023.
Bankers and experts shared with ‘Vedomosti’ key trends and challenges for Russian FinTech in 2023. In 2023, the main tasks of FinTech will be the launch of the Digital Ruble, the development of [Digital Financial Assets](https://www.cbr.ru/finm_infrastructure/digital_oper/#:~:text=ЦФА — это цифровые права%2C включающие,предусмотрены решением о выпуске ЦФА.), payment services and the [Faster Payments System](https://www.cbr.ru/PSystem/sfp/#:~:text=Система быстрых платежей (СБП) —,более 200 банков%2C включая крупнейшие.). One of the key challenges for the financial market will be the search for alternatives to cross-border settlements, as well as the movement towards a new model of open finance.
There are 327 operating banks (225 banks with a universal license, 102 banks with a basic license) and 34 non-bank financial institutions in Russia. (Data on 01.11.2022)
The Central bank of Russia took the lead in FinTech and Neobank development.
Neobanking and digital assets were the segments projected to lose the most users due to Russian actions after the 24th of February, in response to which Western countries sanctioned several Russian banks, and key international financial services providers.