The Central Bank of Russia, together with 13 banks, will begin real-world testing of CBDC studies.
Making statements, the Central Bank of Russia gave the message that they are ready to expand the digital ruble pilot, which is a CBDC product. Russia will begin real-world testing for the CBDC. Work will be carried out with 13 banks in the real-world tests, which are scheduled to start on August 15. Russia aims to circumvent financial restrictions with the digital ruble.
Russia sure about CBDC!
The growing popularity of cryptocurrencies and blockchain technology have played a large part in countries’ moves on CBDC. One of the countries that is most welcoming to CBDCs is Russia.
Continuing its work on the digital ruble, Russia announced that it will start real-world tests. “The launch of pilot operations with the real digital ruble is the most important stage of the project,” the Bank of Russia said. made a statement.
Russia’s confident steps towards CBDC are seen as an important part of overcoming fiscal constraints and achieving financial stability. Stating that they will enter the test phase in an industrial environment, the Central Bank of Russia will emphasize the necessary procedures with the participation of its customers.
Russia aims to make the digital ruble a convenient and understandable product. Real-world testing, the next pilot phase of the digital ruble, will launch on August 15.
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