Russian banks will start testing the digital ruble in January

12 Russian banks, including Sberbank and VTB, will begin testing the digital ruble in January 2022. Based on the testing results, a plan for its implementation in the country’s financial system will be created.

“The development of a prototype platform for the digital ruble is planned to be completed in December, and testing will begin in January 2022. It will take place in several stages throughout the year. Based on the results of this work, a roadmap for the introduction of the digital ruble will be formed, ”the Central Bank’s website says.

Pilot group for testing the digital ruble:

  • Ak Bars Bank
  • Alfa Bank
  • Bank “Dom.RF”
  • VTB Bank
  • Gazprombank
  • Tinkoff Bank
  • Promsvyazbank
  • Rosbank
  • Sberbank
  • SKB-Bank
  • Bank “Soyuz”
  • TKB-bank

Recall that at the end of 2021, a prototype of the digital ruble will be created. According to the leadership of the Central Bank, in 10-30 years it will replace cash. Clients will get access to their wallet, where the money will be stored, through the bank’s mobile application.

On the concept of the development of the third form of money in Russia – in the material of “Kommersant” “The Central Bank will fill wallets with digital rubles.”

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