Sberbank will join the second wave of testing the digital ruble

“Yes, we will definitely,” he said, answering the question whether there will be Sberbank join the second wave of testing the digital ruble.

The Bank of Russia began developing the digital ruble in 2020, and on August 1, 2023, a law was introduced on its implementation as a third form of national currency on a par with cash and non-cash ones. The new law equates the digital ruble to both cash and non-cash money. The only difference is that non-cash rubles are stored in bank accounts, while digital ones will be on the Central Bank platform.

Digital ruble become use in real operations from August 15. They plan to introduce it into mass circulation after stage-by-stage testing no earlier than 2025. So far, only 13 banks have been admitted to testing: VTB, Gazprombank, Alfa Bank, Promsvyazbank, Sovcombank, Rosbankbank Dom.RF“Sinara”, “Ingosstrakh Bank”, Transcapitalbank, MTS Bank and Qiwi Bank. In 2024, 16 more credit institutions will join the pilot.

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