Almost a year and a half after the launch of the pilot project to introduce the digital ruble with real clients, Sberbank and T-Bank have joined it. Information about these participating banks has been updated on the Central Bank's website.
Since August 15, 2023, the Bank of Russia has begun conducting a pilot launch of the digital ruble using real money on a limited group of clients. 12 banks took part in the testing, and another 23 banks were in the process of connecting to the pilot, including Sberbank and T-Bank.
Financial institutions are testing the functionality of digital wallets that store digital rubles. The possibilities of opening, closing, and replenishing such wallets are being tested, as well as transfers between individuals, payment for goods and services, including using a dynamic QR code. In addition, so-called smart contracts are being tested — simple systems of automatic payments, as well as transfers between companies.
The digital ruble is a new form of Russian national currency that the Bank of Russia plans to launch in addition to the existing ones.
As a reminder, the Central Bank plans to launch the widespread use of the digital ruble from July 1, 2025. In this regard, banks will need to create the appropriate infrastructure for conducting transactions with the new currency, and companies will need to ensure the possibility of making payments with it. The regulator has already sent its proposals to the Ministry of Finance of Russia.
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