Russia’s Central Bank has asked the Republic of Tatarstan to help it test a range of digital ruble smart contract functions.
The Russian media outlet Business Gazeta reported that the Central Bank has “approached the leadership of Tatarstan” with “a proposal to pilot” some of the CBDC’s “mechanisms.”
Digital Ruble Smart Contract: Tatarstan Testing Ground
The republic’s Ministry of Finance says it has responded by creating a working group that will help launch the digital ruble in Tatarstan.
Tatarstan on a map of Russia. (Source: TUBS [CC BY-SA 3.0])
The ministry said that it would use the Central Bank’s “test platform” to “carry out experimental conditional spending of targeted funds for selected purposes.”
The announcement comes less than a month after the bank “indefinitely delayed” the CBDC’s national rollout , originally slated for August this year.
This led many to speculate that the coin launch plans could be scrapped altogether, under pressure form the domestic banking sector .
However, the bank has remained cagey on its CBDC launch plans since its most recent announcement. And the news from Tatarstan appears to suggest that the digital ruble is far from dead and buried.
The ministry said it would work with the bank to pilot “conditional CBDC subsidies” from the national budget.
These will be “transformed into smart contracts.” The “digital ruble test platform will independently track transactions within the established rules,” the ministry said.
Working Group Launches
The parties expect to wrap up their testing by the end of the third quarter of 2025, the ministry added.
The ministry said it had already created its working group, which will be chaired by the Tatarstan Finance Minister Marat Fayzrakhmanov.
It also confirmed that Tartarstan’s Minister of Digital Development Airat Khairullin would join the group.
The long-serving Central Bank Governor Elvira Nabiullina last month claimed that a “new rollout date” for the CBDC “will be announced later.”
Nabiullina said the Central Bank wanted more time to work out “details” in the “pilot,” which began in August 2023.
She also added that she would hold “consultation sessions” with banks to establish “the economic model most attractive to their clients.”
Nabiullina claims that the pilot is going “well.” Thus far, the pilot includes 15 banks, 1,7000 citizens, and about 30 companies.
The pilot initially comprised test sites in 11 cities, including Kazan, the capital of Tatarstan.
Kazan, Tatarstan, Russia. (Source: Amikeco/V. Ivanov)
Moscow Also Testing Digital RUB
Away from the key digital ruble smart contract development, the Moscow Metro has also announced plans to expand its own digital RUB pilot operations.
A Moscow Metro station. (Source: Vyacheslav Argenberg [CC BY 4.0])
The metro system was the first transport network in the nation to begin working with the digital RUB back in 2023 .
However, the media outlet RG.ru reported earlier this month that Moscow’s Deputy Mayor of for Transport and Industry Maxim Liksutov said the metro is “working on joint tests with the Central Bank and [the megabank] VTB.”
Like the 2023 tests, the new pilot focuses on the Troika card, Moscow’s reusable contactless smart card. Liksutov said:
“Focus group participants successfully purchased several Troika cards. They also topped up the balance of their cards using their digital ruble wallets’ universal QR code features.”
The developments appear to closely mirror previous Chinese digital yuan pilots, which have also focused on delivering government subsidies to contractors and letting citizens make contactless CBDC payments on transport networks.
However, Moscow has previously insisted one of the main functions of the CBDC could be to help Russian firms make cross-border payments with other digital fiat-using nations.
The post Russian Central Bank to Test Digital Ruble Smart Contract Functions in Tatarstan appeared first on Cryptonews .
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.
Recent:
Crypto News | Metaplanet Launches ¥2 Billion Zero-Interest Bond to Fund Bitcoin Purchases Wayne Jon...
Crypto News | BTC Bull Token Gains Traction as Analyst Expects it to Pump Felix Mollen | usagoldmin...
Crypto News | Pi Network Sinks 18% as Some Traders Rotate Into Solaxy Presale Felix Mollen | usagol...
Crypto News | Crypto firms aiming for banking licenses under Trump administration Gino Matos | usago...
Crypto News | Stablecoin bill could reach Trump’s desk within two months, says Bo Hines Gino Matos |...
Dune Analytics and Artemis stablecoin report on supply, adoption and market trends Collins J. Okoth ...
Nasdaq 100 extends freefall to 315+ points, S&P 500 erases 80-point surge Jai Hamid | usagoldmin...
Is Pepe Coin Gearing Up for a 50% Surge? Bullish Patterns Say Yes Simon Chandler | usagoldmines.com
Tether Gold Reaches New All-Time High as Gold Hits $3,000 – Is This the Next Big Trade? Harvey Hunt...
Pi Network Unveils .PI Domains – Is This the Key to Pi Coin’s Breakout? Alejandro Arrieche | usagold...
UK Moves to Tokenize Government Bonds With Digital Gilt Pilot Hongji Feng | usagoldmines.com
Cardano’s (ADA) Projected 650% Surge and Growing Investor Interest in Mutuum Finance (MUTM) Cryptop...
DeFi protocols are ignoring DPRK-linked transactions: ZachXBT Vignesh Karunanidhi | usagoldmines.com
Mutuum Finance’s (MUTM) $0.02 Price Is a Rare Opportunity: Shiba Inu’s Early Success Shows What Come...
Ethereum Is Retesting A 5-Year Long Trendline – Massive Rally Incoming? Sebastian Villafuerte | usag...
Crypto News | Bitcoin Market is Deleveraging – Here’s What it Means for Investors Mandy Williams | ...
Crypto News | iAgent Secures $3M, Launches $AGNT, and will Introduce a New ERC-** Standard for AI A...
Crypto News | Vitalik Buterin Sells 5K DHN Tokens for $124K, Triggering 50% Price Drop Wayne Jones ...
Crypto News | Ripple v. SEC Lawsuit Speculation: Can This Key Development Lead to a Resolution? Dim...
MicroStrategy to issue an additional 5,000,000 shares of its Series A Perpetual Strife Preferred Sto...
Tax rules in Germany require crypto investors to keep record of transactions Lubomir Tassev | usagol...
Swiss Zuger Kantonalbank Adds Cardano and Avalanche to its Crypto Offering Jimmy Aki | usagoldmines....
Switzerland’s FINMA Approves First DLT Trading System Veronika Rinecker | usagoldmines.com
As Gold Pushes To New Heights, And The Stock Market Recovers From The Crash, Could Bitcoin Follow? J...
Tech Giant Siemens Partners with Minima to Embed Blockchain Security in Automotive, Robotics, and En...
Jurassic World Partners with The Sandbox to Enter Metaverse Sead Fadilpašić | usagoldmines.com
Halliday Raises $20M Funding Led by VC Giant a16z Tanzeel Akhtar | usagoldmines.com
BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets Godspower Owie | usagol...
Crypto News | Vitalik Buterin Sells 5K DHN Tokens for $124K, Triggering 50% Price Drop Wayne Jones ...
Crypto News | Tron founder Justin Sun teases Solana collaboration, TRX value surges 4% Oluwapelumi A...
Crypto News | Strategy raises eyebrows with 10% dividend STRF offering amid low dollar revenue Oluwa...
Crypto News | Dubai offers tokenization sandbox to boost digital finance leadership Oluwapelumi Adej...
Crypto News | BNB launches Good Will Alliance to counteract MEV sandwich attacks Liam 'Akiba' Wright...
Bitcoin Set to Soar? Fed’s Big Decision Could Push BTC Past $88K! Mustafa Mulla | usagoldmines.com
Justin Sun announces wrapped TRON (TRX) is coming to Solana Hristina Vasileva | usagoldmines.com
Nasdaq moves to list 21Shares’ Polkadot Trust, files rule change with SEC Jai Hamid | usagoldmines.c...
Risk of recession at its highest level in six months, given Trump’s fiscal policies Collins J. Okoth...
Will Shiba Inu Finally Hit $1 in 2025? Analysts Are Skeptical—But This Altcoin Could Get There in Ju...
Predictions For Market Rebound: Cardano (ADA) Price To $3, Ethereum Price To $6,000 And Mutuum Finan...
Justin Sun Announces TRX Expansion to Solana Victor | usagoldmines.com
Rolex Index Shows Crypto Market Euphoria Is Still Missing Victor | usagoldmines.com
Dubai International Financial Center (DIFC) announces tokenization regulatory sandbox, calls for EOI...
The Bank of Korea to initiate ‘Hangang’ CBDC pilot with 100,000 citizens next month Collins J. Okoth...
Tether expands Bitcoin mining presence with 21.4% stake in Bitdeer Nellius Irene | usagoldmines.com
Metaplanet Adds Another $12.5 Million In Bitcoin To Treasury, Issues Bonds To Further Expand BTC Hol...
Four.Meme Resumes Launch Feature on BNB Chain After Attack Hassan Shittu | usagoldmines.com
Is Dogecoin About to Shock the Market? Analysts Eye a Breakout to $6 Harvey Hunter | usagoldmines.c...
Is Cardano About to Shoot Up? Analyst Says a Major ADA Surge Is Near Simon Chandler | usagoldmines.c...
Is a $521M Short About to Get Liquidated? Bitcoin Traders Smell Blood Arslan Butt | usagoldmines.com
Asset manager Bernstein says Trump will push Coinbase stock up 60% Jai Hamid | usagoldmines.com
Will 2025 Finally Be The Year The Cardano Price Crosses $4? ADA Rival Mutuum Finance (MUTM) Poised T...
MulfinTrade Develops Its Services for Clients’ Success Cryptopolitan Media | usagoldmines.com
XRP Price Breakdown below $2: Analyst Reveals Next Major Support Scott Matherson | usagoldmines.com
Crypto News | Chainbase Integrates Walrus Protocol to Power Decentralized Data Storage and Availabi...
Crypto News | PropellerAds Launches Advertising in Telegram Mini Apps, Engaging Crypto and Blockcha...
Crypto News | SimpleSwap Mobile App: Seamless Crypto Exchanges on iOS and Android Chainwire | usago...
Crypto News | Ripple Price Analysis: Where Is XRP Headed After a 20% Monthly Decline? CryptoVizArt ...
Crypto News | Bitcoin Price Analysis: Will $80K Hold, or Is Another Breakdown Ahead? CryptoVizArt |...
Why is Pi Network down today? PI coin tanks 15.6% Florence Muchai | usagoldmines.com
US stock market is pricing in a recession based on these early signs Jai Hamid | usagoldmines.com
Hyperliquid whale or crypto criminal? $520M BTC short sparks debate Ashish Kumar | usagoldmines.com
Microsoft flags new remote access trojan targeting crypto wallet extensions on Chrome browser Collin...
Will Bitcoin surge if Trump eliminates income tax for Americans making under $150K? Nellius Irene | ...
XRP Puzzle: London Fund Manager Breaks Down Why Price Isn’t Rising Christian Encila | usagoldmines.c...
Crypto News | Four Meme handles second exploit in months, reinstates launch service Oluwapelumi Adej...
Crypto News | Bank of Korea to give 100,000 users access to CBDC in real-world pilot Liam 'Akiba' Wr...
Gemini appoints new CFO, stokes rumors about upcoming IPO Hannah Collymore | usagoldmines.com
Wall Street execs reveal what’s holding back crypto and blockchain adoption Jai Hamid | usagoldmines...
Bitcoin’s Bull Market Cycle Is Over, CryptoQuant CEO Issues Grim Warning Brenda Ngari | usagoldmines...
Standard Chartered Slashes Its Year-End Ether Price Target From $10,000 To $4,000 — Here’s Why Brend...
Hashdex Seeks SEC Permission To Add Ripple’s XRP, Cardano, And Solana To Its Crypto ETF Index Brenda...
On-Chain Analysis Reveals Ethereum (ETH) Has Hit The Bottom Olivia Brooke | usagoldmines.com
Sol Strategies Acquires Three Solana Validators, Including Laine and Stakewiz.com Hassan Shittu | us...
‘Hyperliquid 50x Leverage Whale’ Is a Cybercriminal Using Stolen Funds— ZachXBT Hassan Shittu | usag...
Crypto Whale Nets $10 Million in Profit on 40x Leverage Bitcoin Short Ruholamin Haqshanas | usagoldm...
Best Crypto to Buy as Canary Capital Files for First-Ever SUI ETF Krishi Chowdhary | usagoldmines.co...
Crypto News | Pi Network (PI) Price Predictions for This Week Duo Nine | usagoldmines.com
Mubarak Meme Coin Skyrockets 200% in 48 Hours: Is This Rally Sustainable? Elena R | usagoldmines.com
Hyperliquid Whale a Trader Or Cyber Criminal? ZachXBT Exposes the Truth! Mustafa Mulla | usagoldmine...
Crypto Firms Seek National Bank Status Victor | usagoldmines.com
Tesla short sellers make $16 billion as Elon Musk loses $200 billion Jai Hamid | usagoldmines.com
Global markets rise for the second day as US investors await housing data Jai Hamid | usagoldmines.c...
Vitalik Buterin mints DAI, sells DHN and crashes meme token prices with rapid selling Hristina Vasil...
Shiba Inu (SHIB) Millionaire Bets $0.25 Million On This ETH-Based Altcoin, Predicting 17,500% Run So...
Bitcoin Accumulation Resumes After 3 Months Of Distribution – Analyst Sebastian Villafuerte | usagol...
Crypto News | Is Dogecoin Poised for a Breakout? These Indicators Say Yes (Santiment) Mandy William...
Crypto News | Crypto.com influence stirs controversy in Cronos token burn reversal Oluwapelumi Adeju...
Bitcoin Crash Ahead? Peter Schiff Predicts BTC at $20K as Gold Surges Vignesh S G | usagoldmines.com
80 Companies Embrace Bitcoin Holdings Victor | usagoldmines.com
Bitcoin Leads the Charge Amid Post-Election Market Dip Victor | usagoldmines.com
Ethena Labs and Securitize to launch Converge blockchain for retail and institutional DeFi and token...
Ripple mints 25 million RLUSD tokens Florence Muchai | usagoldmines.com
New York Court to Review LIBRA Token Case Following 94% Price Crash Maisie Morrison | usagoldmines.c...
Japan’s Metaplanet Buys $12.5M in Bitcoin, Adding Another 150 BTC to Holdings Ruholamin Haqshanas | ...
Cronos Approves Controversial $5.6B CRO Reissuance Proposal with Crypto.com’s Influence Ruholamin Ha...
China’s Xi Jinping to visit Washington amid trade tensions with Trump Jai Hamid | usagoldmines.com
Lightchian AI & Cardano (ADA) See Surge In Whale Activity, Which Crypto Will Pump First? Cryptop...
Bitcoin Bull Run ‘Is Over’: CryptoQuant CEO Sounds The Alarm Jake Simmons | usagoldmines.com
Crypto News | These Altcoins Suffer the Most as Bitcoin (BTC) Slides to $83K (Market Watch) Jordan ...
Crypto News | Solana Foundation sparks backlash with controversial ad comparing pronouns to DeFi Olu...
Post navigation