A Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital ruble transactions processed through its mobile app. The state-owned Promsvyazbank was one the institutions placed under Western sanctions earlier this year in connection with Moscow’s actions in Ukraine. Russian Bank Experiments With Digital Ruble Transfers via Mobile Application Promsvyazbank (PSB) is one of the first Russian lenders to join the trials of the central bank digital currency ( CBDC ) issued by the Bank of Russia. According to a report by the business news outlet Plus Journal, the bank has recently tested digital ruble transactions through its app for mobile devices. To carry out the operations, participants had to pass a registration in the application and set up a digital wallet. Then, using their account, they were able to exchange regular electronic bank money for digital rubles and transfer digital cash to other clients of the bank as well as those of other bank
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