First Deputy Governor of the Bank of Russia Olga Skorobogatova described the details of the phased testing of the digital ruble platform .

The Bank of Russia intends in January 2022 to begin testing the digital ruble emission, transfers between individuals, as well as interaction according to the client> bank> digital ruble platform.  Olga Skorobogatova, First Deputy Chairman of the Central Bank of the Russian Federation, stated this in  an interview with Russia 24.

At the second stage in 2022, according to Skorobogatova, the Central Bank plans to test digital payment for goods and services. Further stages will be selected already in dialogue with banks, depending on what is “the most interesting for the market,” she added.

Moreover, as part of a pilot project, the regulator wants to test the transfer of non-cash money to the digital ruble and vice versa. At the same time, Skorobogatova stressed that Russia was among the three leaders in testing the national digital currency . On a practical level, in addition to Russia, Sweden and China are already working on digital currencies .

“The Swedish regulator with market participants intends to start testing. We also plan to start testing … ”, – said Skorobogatova.

In addition, the first deputy chairman of the Central Bank of the Russian Federation noted that the regulator is not going to copy the models of foreign digital currencies. Despite the fact that Russia is already in the top three, the Central Bank will not rush to develop the digital ruble.

Skorobogatova’s comments come after the  first group of 12 banks to test the digital ruble platform became known . Recall that the group includes Sberbank, Tinkoff Bank, VTB and nine more banks.

Leave a Reply

Your email address will not be published.