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Russia Preps Digital Ruble Pilot

Russia’s central bank is getting ready for a pilot project with real-world retail transactions that will use digital currency.

Local news agency TASS says that 13 banks will take part in the pilot, which will start in April and include both P2P and retail payments.

Olga Skorobogatova, the first vice chair of the central bank, told reporters that the pilot will use real payments, but only for a small number of customers and transactions.

According to CoinDesk, Russia had planned to start testing a digital ruble in 2021, but the project was put on hold because banks were worried that it would make the banking system more centralized.