Bank of Russia launches first CBDC trial group with 12 prime banks

The Bank of Russia announced yesterday the beginning of a pilot project for a digital ruble, central bank digital currency (CBDC) with a dozen institutions, including the biggest, Sberbank, VTB, Gazprombank, and Alfa Bank.

Russia’s ambitions to create a prototype digital ruble platform by the end of 2021 and begin testing in January 2022 were reiterated by the bank. The initial round of testing will include the issuance of the digital ruble as well as numerous other activities. Following that, the Bank of Russia intends to expand the number of participants and the scope of pilot operations.

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