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Aug 9 (Interfax) - The Russian Central Bank will begin a pilot with real digital rubles on August 15, when, during its initial stage, customers will be able to open wallets, make transfers and pay for goods and services, Olga Skorobogatova, First Deputy Chairman of the Central Bank, said at a press conference on Wednesday. Next week, the Bank of Russia will begin testing out real world transactions with its digital ruble, a central bank digital currency that was approved by President Vladimir Putin in late July. Thirteen banksexcluding Russian banks Sberbank and Tinkoffwill be involved in the pilot testing program. The Bank of Russia has revealed that it has enlisted 13 banks for the pilot testing of a digital ruble involving real-world transactions. The test is set to begin on August 15, with select clients from the participating banks trialing the scheme. Russia is set to broaden its digital ruble pilot by starting real-world tests with 13 banks next week, the country's central bank announced Wednesday. President Vladimir Putin signed the Bank of Russia begins testing the digital ruble project on Aug 15 with 13 banks and select clients. The aim is mass usage by 2025 as the pilot phase is to refine processes, including digital The central bank revealed that from Aug. 15, participants from 13 selected banks will commence spending and using the digital ruble at 30 designated locations across 11 cities. During the pilot, users will be able to create accounts or wallets, make peer-to-peer transfers, perform auto payments, and make QR code purchases. Pilot testing of the digital ruble on real transactions will be launched on 15 August. It will be carried out with the participation of 13 banks and a limited number of their clients. Russia will begin piloting its digital rouble with consumers on Aug. 15 after a lengthy testing phase with banks, the central bank said on Wednesday, as Moscow looks to widen the scope of its The Bank of Russia (BoR) has unveiled its plans to kick off testing operations for Russia's central bank digital currency (CBDC) project. The trial is set to begin on August 15th. On August 15, the tests of the digital ruble will begin in Russia. This was announced this Wednesday by Olga Skorobogatova, first deputy governor of the Bank of Russia.This pilot test is decisive in the country's transition to digital currency.

Russia Set to Launch Digital Ruble Testing on August 15th: What You Need to Know

Russia is poised to enter a new era of finance with the pilot launch of its digital ruble, starting August 15th. This marks a significant step towards the potential mass adoption of a central bank digital currency (CBDC) in the country. The Bank of Russia (BoR) has officially unveiled its plans to kick off testing operations for this ambitious project.

Digital Ruble Testing Begins: Key Details

According to Interfax, the initial phase of the pilot program, commencing on August 15th, will allow customers to open wallets, make transfers, and pay for goods and services. Olga Skorobogatova, First Deputy Chairman of the Central Bank, announced these details at a press conference on Wednesday.

The digital ruble, a central bank digital currency approved by President Vladimir Putin in late July, is now ready for real-world transaction testing. This pilot program will involve 13 banks, excluding Russian financial giants like Sberbank and Tinkoff.

Real-World Transactions and Pilot Program Scope

The Bank of Russia has enlisted 13 banks for the pilot testing, which will involve real-world transactions with select clients. This real-world testing signifies a critical phase in the digital ruble\'s development. President Vladimir Putin signed the legislation paving the way for this testing phase.

The aim is mass usage by 2025, and this pilot phase is crucial to refine processes, including the digital ruble\'s underlying technology. The central bank revealed that, starting August 15, participants from the 13 selected banks will commence spending and using the digital ruble at 30 designated locations across 11 cities.

Digital Ruble Functionality in the Pilot

During the pilot program, users will have access to core functionalities: creating accounts or wallets, making peer-to-peer transfers, performing auto payments, and making QR code purchases. Pilot testing of the digital ruble on real transactions will be carried out with the participation of the 13 banks and a limited number of their clients.

Russia will begin piloting its digital rouble with consumers on Aug. 15 after a lengthy testing phase with banks, the central bank said on Wednesday, as Moscow looks to widen the scope of its digital financial infrastructure.

Looking Ahead: Digital Ruble and the Future of Finance in Russia

This pilot test is decisive in the country\'s transition to digital currency. The tests of the digital ruble will officially begin in Russia on August 15th, as confirmed by Olga Skorobogatova. The digital ruble represents Russia\'s commitment to exploring and implementing innovative financial technologies. Stay tuned for further updates on the progress of this important project.