Bank of Russia is preparing for a digital ruble pilot test starting on August 15. 13 banks have confirmed their participation and completed technical preparations. The test will initially involve bank partners and employees, but retail clients will be able to participate in the future. Sixteen more banks will join the test network next year. The Bank of Russia is also considering integrating the digital ruble with other digital currencies for cross-border payments. Friendly countries are being discussed for this integration.
– Pilot test for digital ruble set to begin on August 15.
– 13 banks have confirmed their participation and completed technical preparations.
– Initial phase limited to bank partners and employees.
– Retail clients will be able to participate in the future.
– Sixteen more banks will join the test network next year.
– Retail clients of participating banks can submit applications for digital ruble testing in real transactions.
– Timeframe for pilot test activities not specified.
– Other banks are expected to join the pilot test in the future.
– Bank of Russia is considering integrating the digital ruble with other digital currencies.
– Integration would allow for cross-border payments.
– Discussions being held with friendly countries for this integration.
The Bank of Russia is making significant progress in its digital ruble pilot test, with 13 banks already confirmed for participation. Retail clients will soon be able to test the digital ruble in real transactions. The integration of the digital ruble with other digital currencies for cross-border payments shows the potential for a global reach. This pilot test is a crucial step towards the implementation of a digital ruble in Russia, which could potentially reshape the country’s financial landscape.
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