Seven banks will participate in the testing of the digital ruble platform in the coming months. This was stated by the head of the Central Bank of the Russian Federation, Elvira Nabiullina.

According to him, financial institutions are now completing the preparations of information systems.

The launch of the prototype platform took place in January 2022 with the participation of five banks. Together with the regulator, they tested the issuance of digital rubles, the opening of digital wallets and transfers between citizens.

In general, 12 banks will test the new car – Sberbank, VTB, Gazprombank, Alfa-Bank, Dom. RF, Rosbank, Promsvyazbank, Tinkoff Bank, SKB-Bank, Ak Bars Bank, Transcapitalbank and Soyuz.

The second phase of platform testing is expected in the fall of 2022. It includes conducting government payments as well as payment operations for goods and services. In addition, the Federal Reserve plans to test interaction with the federal treasury and implement smart contracts.

Recall that the digital ruble as the third form of money is planned to be released by 2030.

After Russia’s military invasion of Ukraine and subsequent backlash from the West, the New York Times suggested that Russian companies could use the digital ruble to circumvent sanctions.

Earlier, State Duma deputy Sergei Mironov proposed making the local CBDC the reserve currency.