Russia to pilot digital ruble prototype in 2021
Business
Russia’s central bank intends on launching a digital ruble prototype this year, its deputy chairman has recently revealed. The bank announced its central bank digital currency plans in 2020, causing rifts within the banking sector. It now intends to launch the prototype as development continues into the next year.
Alexey Zabotkin, the deputy chairman of the Bank of Russia, confirmed the news at an event recently hosted by the Russian Economic School. He said the bank wants to give the citizens an opportunity to test the digital ruble, even though it won’t support real-time transactions initially.