The digital ruble testing platform will be launched in 2022

The Bank of Russia announced the beginning of the first step of testing the electronic ruble capabilities in the next year. It involves checking the corresponding platform operation. Some banks, as well as individuals, will be connected to it. In case of successful completion of the 1st stage, the Central Bank will proceed to the 2nd stage. For this, the treasury, as well as legal entities and government organizations, will be connected to the platform. In the future, testing of the ruble digital version will take place with the participation of exchanges, brokerage and insurance companies, as well as other organizations taking part in the country’s economic infrastructure. The testing will include the operations of exchanging the ruble electronic version for currencies of other countries, as well as the possibility of opening electronic wallets of other countries’ citizens. The format of Russian electronic currency is still under consideration. The digital ruble will be the same asset of payment transactions as the regular Russian ruble.

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Arseny Kudrin

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