Bank of Russia sets date for digital ruble pilot launch

From 1 April, the Bank of Russia will launch a pilot project for digital ruble operations with the participation of 13 banks, according to first deputy governor Olga Skorobogatova, as reported by ТАСС.

In the initial phase, the regulator will begin testing operations between individuals and payments to retail and service enterprises.

The pilot will run on real transactions and real users, but will be limited to selected clients of 13 banks that have already technically confirmed their readiness,

She added that ordinary customers will not participate in testing at the initial stage, and after its completion the regulator will determine further scaling of digital ruble operations.

The regulator also allowed the use of the digital token backed by gold in international settlements.

Earlier, on 16 January the State Duma Council put for consideration in the first reading digital ruble bill.

The prototype launch of the Russian CBDC platform took place in January 2022 with the participation of five banks. Together with the regulator they tested the asset issuance, opened digital wallets, and transfers between citizens.