The Russian central bank chooses to debut the first consumer pilot for the national digital currency on this year’s April Fools' Day.
The Bank of Russia is preparing to roll out the first consumer pilot for the nation’s central bank digital currency on April 1, 2023.
Russia’s central bank is set to soon debut the first real-world digital ruble transactions involving 13 local banks and several merchants, first deputy governor Olga Skorobogatova said. The official noted that the upcoming CBDC pilot will involve real operations and real consumers in Russia but will be limited to a certain number of transactions and customers, the local news agency TASS“We plan to launch the digital ruble project on April 1, with transactions involving individual transfers as well as payments in trade and service enterprises,” Skorobogatova stated at the Ural Forum Cybersecurity in Finance.
The deputy governor clarified that general customers would not be able to participate in the pilot in the first stage, as the banks will enter the pilot with chosen customers. Following the first pilot stage, the Bank of Russia plans to determine how to scale the digital ruble further, Skorobogatova stated.The latest announcement by Skorobogatova follows the roadmap for the digital ruble rollout that the central bank officially introduced in June 2022.
for 2024, the consumer CBDC pilot was moved to an earlier date as the Russian central bank was looking for an alternative to the SWIFT payments system amid Western economic sanctions against Russia.
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