RBI Expands Digital Rupee Pilot to More Cities and Banks
The Reserve Bank of India has expanded the scope of its retail central bank digital currency pilot, bringing additional banks and cities into the programme. The e-rupee is a digital form of sovereign currency, distinct from privately issued cryptocurrencies, and is being tested for both online and offline payments. The RBI has highlighted progress on offline functionality, which could help users transact in areas with limited connectivity. Officials reiterate that the digital rupee is meant to complement cash and existing digital rails rather than replace them. For Indian users, the wider pilot offers more chances to experience CBDC payments first-hand. The central bank plans to evaluate usage data before any decision on a full nationwide launch.
Read Full Article on CoinDeskSummary generated by IndiCrypto from CoinDesk. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in CBDC
ECB Digital Euro Report Keeps Preparation Phase Moving
Read the latest update on ECB Digital Euro Report Keeps Preparation Phase Moving.
RBI Expands Digital Rupee Pilot to More Cities and Banks
The Reserve Bank of India has widened its retail digital rupee (e-rupee) pilot, adding more participating banks and cities. The central bank reports steady growth in wallet sign-ups and offline transaction testing. Officials say the CBDC is designed to…
Fed Research Compares Wholesale CBDC Settlement With Tokenized Deposits
A Federal Reserve research paper has compared wholesale CBDC settlement with tokenized commercial bank deposits, adding another official research layer to th...