The Central Bank of Russia plans to launch a digital ruble trial in 13 banks, and participants can use digital ruble payments at 30 retail institutions. The trial will be carried out in three phases: first, the creation and funding of digital ruble accounts, transactions and simple automatic payments; second, the introduction of dynamic QR Codes and transfers between legal entities; and finally, the expansion of the range of automatic payment templates.
This trial aims to verify the functionality of the digital ruble platform, adjust processes, and ensure the convenience and ease of use of the customer experience. Russia expects to widely roll out the use of the digital ruble after full and successful testing in 2025.
While the digital ruble trial was delayed as the legislation made its preliminary reading in the State Duma, plans for a central bank digital currency have moved ahead after Russian President Vladimir Putin signed the digital ruble bill on July 24.
