The Central Bank of Russia has approved the first group for testing the digital ruble.
The 12 largest banks of the Russian Federation will become an experimental testing ground for testing technologies for issuing, transferring and storing digital national currency. Among them are VTB, Sberbank, Tinkoff, Gazprombank, and others.
The implementation of the project involves several stages. Work on the digital platform should be completed in December of this year. The second phase will begin next year with testing the platform and drawing up a roadmap. The third stage involves the development of legislation for the implementation of a digital national currency.
Digital currency will be issued in addition to existing cash and non-cash forms of money. The main regulator and issuer will be the Central Bank of the Russian Federation.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
The Central Bank of Thailand is developing its own cryptocurrency
The Central Bank of Thailand pays great attention to studying and testing the capabilities of blockchain technology in various sectors of the country’s economy, including a number of developments in the work on the use of innovations in the banking environment. The new project is aimed at preparing the release of Thailand's national cryptocurrency (CBDC).
Venezuelan cryptocurrency El Petro will be backed by oil and gold
“For every El Petro, a barrel of oil,” said Venezuelan President Nicolas Maduro, promising to launch digital currency mining throughout the country
