Central Bank of Russia announced readiness of a prototype of the digital ruble platform

The first stage of testing will begin as early as January 2022

21.12.2021 - 07:05

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What’s new? Olga Skorobogatova, the First Deputy Governor of the Bank of Russia, has announced that the prototype of the digital ruble platform is ready. The first stage of its testing will begin in January. This is reported by Interfax.

Material on the Interfax website

How will the testing be done? It will last for several months in 2022 and will be divided into stages. In the first stage, it is planned to connect credit institutions to the digital ruble platform and launch C2C transfers. 12 banks such as Sberbank, Tinkoff Bank, VTB Bank, Rosbank, Promsvyazbank, Alfa-Bank, Gazprombank, Ak Bars Bank, Bank DOM.RF, SKB-Bank, Bank SOYUZ, and TKB will participate in the testing.

The digital currency is to be launched by 2030. As Central Bank Governor Elvira Nabiullina said, the digital ruble may become a full-fledged replacement for cryptocurrencies for Russians.

What is the attitude to the digital ruble in Russia? Prosecutor General Igor Krasnov previously said that the introduction of the digital ruble will stimulate the decriminalization of settlements on the Web. According to him, the main advantage of virtual currency is increasing the transparency of settlements and, accordingly, reducing the risks of corruption and money laundering.

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