The second stage of testing the digital ruble is scheduled for autumn

It will test digital ruble payments for goods and services

17.02.2022 - 15:30

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What’s new? The government has scheduled the second stage of testing the digital ruble for autumn 2022. This was reported to Izvestia by the First Deputy Chairman of the Bank of Russia Olga Skorobogatova. The second stage will involve testing digital ruble payments for goods and services. The Central Bank also intends to install smart contracts and analyze cooperation with the Federal Treasury.

Information on the Izvestia website

What else is the Central Bank planning? According to Skorobogatova, testing of the digital currency platform will take place in three stages. At the latter, transactions with CBDC will be carried out in offline mode, since this is relevant for regions where communication interruptions are observed. The Central Bank also plans to start the process of opening wallets for non-residents.

What had happened before? The Central Bank of Russia has announcedthe completion of the first round of testing of the digital ruble. Three of the twelve banks participating in the CBDC pilot program have already switched to the digital ruble. According to two of them, they have even conducted a full cycle of digital ruble transfers between clients using mobile banking applications.

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