India recently launched central bank digital currency (CBDC) — digital rupee – offline functionality is now being tested, revealed Ajay Kumar Choudhary, chief executive of the Reserve Bank of India (RBI).
The RBI, the central bank and regulator of India, launched the wholesale pilot segment for the digital rupee on November 1, 2022, incorporation of 50,000 users and 5,000 merchants for real world testing. As of February 25, about $134 million and 800,000 transactions have been completed through wholesale CBDCs.
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