Russian Banks Carry Out First Transactions with Digital Ruble
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Feb. 15, 2022

Russian banks have started testing the digital ruble platform.

The Central Bank of the Russian Federation has reported that two banks in the country, VTB and PSB, have successfully carried out a full cycle of operations for the transfer of digital rubles between customers via bank mobile apps.

The digital platform allows users to register once through the mobile app of any bank connected to the platform, access their digital wallet and perform transactions.

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Customers opened digital wallets on the platform and exchanged non-cash rubles for digital rubles. Then, they conducted digital asset transfer transactions with each other.

The remaining participants in the pilot program will join the platform testing as improvements to their systems are completed.

The first group to test the digital ruble included 12 banks, including VTB and PSB.

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