The pilot, with participation from 13 banks, will kick off in April, involving P2P and retail payments, according to local news agency TASS.

Central bank first deputy chairman Olga Skorobogatova told reporters that, while the pilot will involve real payments, it will be for a limited number of transactions and customers.

Russia had planned to begin testing a digital ruble in 2021, but put back the project in the face of concerns from banks that it could make the banking system more centralised, according to CoinDesk.