The Central Bank of the Russian Federation will begin real-world tests of the digital currency with 13 banks and limited clients on August 15. This means that Russia is set to broaden its digital ruble pilot next week. President Putin signed the digital ruble law in July, while the central bank's pilot for the CBDC has been a while in the making. Russia – heavily sanctioned by the U.S. and Europe following the invasion of Ukraine – views the digital ruble as a way of circumventing the financial restrictions.
“The launch of pilot operations with real digital rubles is the most important stage of the project," the Bank of Russia said recently. “This will allow us to test the operation of the digital ruble platform already in an industrial environment, work out all the necessary procedures with the involvement of clients, adjust processes, if necessary, and make sure that the client path is convenient and understandable for users."
The tests will be conducted through 13 banks and a limited circle of their clients, according to the announcement. First stages of testing will focus on digital wallets, transfers between citizens, purchases of goods and services using QR codes and simple automated payments.
Source: coindesk.com
