Russia's Central Bank has enlisted the Republic of Tatarstan to trial smart contract functions for the digital ruble, marking a significant step in the CBDC's ongoing development.
The Tatarstan Ministry of Finance confirmed the establishment of a working group to oversee the tests. The initiative will focus on piloting conditional CBDC subsidies, transforming them into smart contracts monitored by the Central Bank's test platform. Despite the indefinite delay of the nationwide rollout, this move suggests that the digital ruble project remains active.
Alongside these efforts, the Moscow Metro is expanding its own digital ruble trials. The city's transport network is collaborating with the Central Bank and VTB to facilitate payments via the Troika card, using QR codes linked to digital ruble wallets. This development mirrors China's digital yuan initiatives, highlighting Russia's ambitions to integrate CBDCs into everyday transactions.
Although the national launch remains uncertain, these ongoing tests indicate that authorities are determined to refine the digital ruble's functionality before wider implementation.
For more information on these topics, visit diplomacy.edu.