At least 5 major banks participate in Russian digital ruble pilot project

On October 16, the Cointelegraph announced that at least five Russian banks were interested in participating in Russia's digital ruble pilot project in the first half of 2021. The five banks are state-owned Promsvyazbank, Moscow Credit Bank, the bank Zenit Commercial Bank, the Dom central bank and the Russian State Commercial Bank of Crimea. The Central Bank of Russia still decides to use digital rubles to pay salaries and benefits after public use. The Russian bank claims that users will be able to store and exchange future digital transactions through "simulated bank cards". Before October 13, the Russian Central Bank announced that it was considering the possibility of issuing digital ruble.