Bank Of Russia To Pilot CBDC In April
The Bank of Russia’s central bank digital currency (CBDC), the digital ruble, is ready for its pilot phase, according to the bank’s deputy governor, Olga Skorobogatova, on February 17th.
The project will be launched for peer-to-peer transfers between individuals and for retail purchases, Skorobogatova told journalists during a fintech conference in Russia. “The pilot will work on real operations for real people, but only for a limited number of them, with the 13 banks that have signaled they’re ready,” she said.
She added that the CBDC will be tested with a small group of clients. After the pilot, the Bank of Russia will decide how to expand the project.
(With inputs from Shikha Singh)
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