Russia will start a pilot project for 'digital' rouble from April - cbank


FILE PHOTO: Rouble coin plunges into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Russia will start a pilot project using its "digital" rouble with real customers and real transactions from April 2023, its central bank said on Wednesday, adding that the project would run ahead of the initial schedule.

With Western sanctions cutting off Russia from large parts of the global financial system, Moscow is looking for alternative ways to make key payments both at home and abroad. In April, Moscow planned to have the "digital" rouble capable of making international payments ready by next year.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

In an online world, a new generation of protesters chooses anonymity
After two winsome Ori games, a pivot into dark fantasy
Teenager in China dies of heart attack after teacher forces her to exercise, insists illness is ‘fake’, delays first aid, enrages mainland social media
NoSpace is Gen Z’s answer to MySpace
What if customers were rewarded for tipping their meal delivery drivers?
Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows
Exclusive-Stanford AI leader Fei-Fei Li building 'spatial intelligence' startup
Tech platforms make pitch for ad deals as TikTok is roiled by politics
Intesa targets new digital-only clients after antitrust blow
Paramount will let exclusive talks with Skydance lapse

Others Also Read