VTB has completed work on a technology that allows withdrawing digital rubles through ATMs, the press service of the credit institution reported.
As the bank notes, VTB was the first to introduce this technology in the Russian Federation. The functionality will be available to participants of the digital ruble pilot project in the bank’s mobile application.
The option is available at the organization’s 14,000 ATMs throughout the country. To use it, you will need to read the ATM’s QR code with your smartphone, after which the bank’s application will launch. There you can select a digital ruble account. The required amount will be transferred from this account to the customer’s cashless account and the funds can be withdrawn from an ATM.
As of August 1, 2023, Russian legislation allows payments to be made in digital rubles, which are fully controlled by the Central Bank. The digital ruble represents the third form of Russian currency. They plan to make the digital ruble accessible to ordinary Russians by the period 2025-2027.
They started testing real digital ruble trading in August. The pilot involves large banks and their clients.
Last month, Russians were offered an alternative to the digital ruble. Former State Duma deputy Robert Schlegel launched CRR, a cryptocurrency token on the Ethereum blockchain.
Author:
Natalia Gormaleva
Source: RB
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