Reserve Bank Of India Reserve Bank Of India Launches Digital Currency Retail Sandbox

Summary is AI-generated, newsroom-reviewed

The Reserve Bank of India (RBI) on Wednesday launched a retail sandbox for its central bank digital currency (CBDC), allowing fintech firms to build and test solutions as part of the ongoing pilot, Suvendu Pati, chief general manager at the Reserve Bank of India, said.

The RBI’s first retail e-rupee pilot, its version of a CBDC, began on December 1, 2022.

Total CBDC users in India are about 7 million.

(This is a developing story)