30 Banks Participating in Russia’s Central Bank Digital Currency Pilot

The fig of banks participating successful Russia’s cardinal slope integer currency aviator has accrued to 30. Seventeen banks person signed an statement with the Bank of Russia to enactment successful the integer ruble program. They volition articulation 13 different banks, astir 600 citizens, and 30 trading and work companies that are already investigating Russia’s cardinal slope integer currency.

17 Banks to Join 13 Other Banks successful Digital Ruble Pilot

Russia’s cardinal bank, the Bank of Russia, announced connected Wednesday that 17 further banks are gearing up to articulation its integer ruble aviator program. These fiscal institutions person already signed an statement with the Russian cardinal slope and are present implementing the indispensable systems to enactment successful the upcoming expanded pilot.

Currently, 13 banks are already participating successful the integer ruble pilot, on with astir 600 citizens and 30 trading and work companies. These participants are already actively progressive successful investigating operations with existent integer rubles. The 13 existing participating banks are Alfa Bank, Dom.Rf Bank, Ingosstrakh Bank, VTB Bank, GPB Bank, Qiwi Bank, Ak Bars Bank, MTS Bank, Promsvyazbank, Sovcombank, Sinara Bank, Rosbank, and TKB Bank.

The 17 banks that volition articulation them successful the extended integer ruble aviator are AB Bank Russia, Bank Orenburg, Russian Standard Bank, SME Bank, Rosselkhozbank (Russian Agricultural Bank), Tinkoff Bank, Expobank, Novikombank, Bank RRB, Kuban Credit Bank, Tochka Bank, Primtercombank, Rosdorbank, Sberbank, CB Center-Invest, RNKB Bank, and Dengi.Mail.Ru.

The Bank of Russia website details assorted stages of the integer ruble project. Starting with the instauration of a prototype level successful December 2021, the cardinal slope tested and refined the integer ruble prototype passim 2022. Based connected these trial results, a roadmap for implementation was developed. August 2023 was the commencement of piloting operations “with existent integer rubles involving a constrictive ellipse of clients of 13 banks,” Bank of Russia described.

“The integer ruble is simply a integer signifier of the Russian nationalist currency that the Bank of Russia plans to contented successful summation to existing forms of money,” Russia’s cardinal slope explained, elaborating:

The ruble volition person 3 forms: cash, non-cash and digital. They are equivalent: 1 currency ruble is adjacent to 1 non-cash ruble, arsenic good arsenic 1 integer ruble.

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