Bank Of Russia Says Ready To Launch Digital Ruble Pilot Project

The Central Bank of Russia is ready to start a digital ruble pilot project which will be available for general use once completed, Governor of the Bank of Russia Elvira Nabiullina said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 18th April, 2023) The Central Bank of Russia is ready to start a digital ruble pilot project which will be available for general use once completed, Governor of the Bank of Russia Elvira Nabiullina said on Tuesday.

"We are ready to start the digital ruble pilot project, which means conducting real transactions with real money, but initially for use with a limited sums of money as with the number of clients.

Once the pilot project has been completed, we will be able to offer the digital ruble to everyone," Nabiullina told legislators at the lower chamber of the Russian parliament.

The Bank of Russia is planning to issue a digital ruble as an additional form of Russia's national currency. It will be possible to use the digital ruble offline and for online payments. The regulator will grant access to the digital ruble to all economic agents, including individuals, businesses and the government.