The Central Bank of the Russian Federation (CBR) started developing the digital ruble platform and plans to start testing a prototype from January 2022, according to Olga Skorobogatova, the First Deputy Chairman of the Central Bank.
The testing, which will take place in several stages, provides for different types of operations. Based on the results of piloting, CBR will develop a roadmap for the implementation of the digital ruble in the Russian Federation and amendments to the legislation.
The Central Bank began to study the possibility of issuing a digital ruble in October 2020. After public discussions, in early April, the regulator presented the concept of a new form of currency. According to the document, the launch of testing a prototype of the digital ruble platform is scheduled for the first quarter of 2022.
The Russian Government