Sberbank to join Russian Central Bank’s Digital Ruble pilot
Russia’s largest bank, Sber, is set to play a vital role in CBDC testing. Sberbank operates several tech solutions including Okko streaming, Citymobil taxi, SberSound, and SberMarket. Russia’s digital currency ecosystem structure resembles China’s approach. In a significant development for the future of Russia’s Central Bank Digital Currency (CBDC), Sberbank, the country’s largest bank and a major tech player, has confirmed its participation in the digital ruble pilot program. The pilot program, which was to involve 13 Russian banks was rolled out after Putin signed the digital rubles bill into law in July. The bank’s influential CEO, Herman Gref, expressed the firm’s commitment to joining the “second wave” of banks that will commence digital ruble testing in 2024. This announcement marks a significant step forward in Russia’s efforts to launch its own digital currency. Sberbank’s transformati...