India recently launched its own Central Bank Digital Currency (CBDC) — digital rupee — The offline functionality is currently being tested, said Ajay Kumar Choudhary, Executive Director of the Reserve Bank of India (RBI).
RBI — Central Bank and Regulatory Body of India — started wholesale Digital Rupee Segment Pilot on 1 November 2022, Onboarding 50,000 users and 5,000 merchants for actual testing. As of February 25, approximately $134 million and 800,000 transactions have been completed through wholesale CBDC.
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