Russia to begin CBDC trials with 13 banks
According to Olga Skorobogatova, First Deputy Governor of the Bank of Russia, initiating pilot operations using genuine digital rubles represents a pivotal phase within the project. The Bank of Russia (BoR) has revealed that it will begin testing operations for Russia’s central bank digital currency (CBDC) project with digital rubles. The test will begin on August 15. A statement released by the Bank of Russia indicates that the pilot tests will involve the participation of 13 banks and a restricted group of their clients. According to Olga Skorobogatova, First Deputy Governor of the Bank of Russia, initiating pilot operations using genuine digital rubles represents a pivotal phase within the project. This step facilitates the examination of the digital ruble platform's functionality within an industrial context, the refinement of essential procedures in collaboration with clients, potential process adjustments and the assurance of a user-friendly and comprehensible client ex...