India explores offline performance of CBDCs — RBI government director

India’s lately launched in-house central financial institution digital forex (CBDC) — the digital rupee — is now being examined for offline performance, revealed Ajay Kumar Choudhary, government director of the Reserve Financial institution of India (RBI).

The RBI — India’s central financial institution and regulatory physique — launched the wholesale phase pilot for the digital rupee on Nov. 1, 2022, onboarding 50,000 customers and 5,000 retailers for real-world testing. As of Feb. 25, round $134 million and 800,000 transactions have been accomplished by way of wholesale CBDCs.

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