'Russia To Commence Digital Ruble Pilot Testing With 13 Banks; The Pilot Program For The Digital Currency Will Begin On August 15' - Blockworks
Portfolio Pulse from Happy Mohamed
The Bank of Russia will begin testing real-world transactions with its digital ruble, a central bank digital currency (CBDC) approved by President Vladimir Putin, with 13 banks excluding Sberbank and Tinkoff. The pilot program will test basic transactions, including opening of digital ruble accounts and money transfers. If successful, the digital ruble should be available for use by 2025. The pilot program aims to ensure the infrastructure surrounding the CBDC is functioning and user-friendly before rolling it out for retail and business use.
August 09, 2023 | 3:47 pm
News sentiment analysis
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NEUTRAL IMPACT
The news of Russia testing its digital ruble may not have a direct impact on SPY as it is a broad-based ETF tracking the S&P 500. However, any significant developments in the global digital currency landscape could indirectly affect the market sentiment.
While the news is significant in the context of global digital currency developments, it does not directly pertain to SPY or its underlying assets. However, it could indirectly influence market sentiment and volatility, which could affect SPY.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
The news of Russia testing its digital ruble may not have a direct impact on VGK as it is an ETF tracking European stocks. However, any significant developments in the global digital currency landscape could indirectly affect the market sentiment.
While the news is significant in the context of global digital currency developments, it does not directly pertain to VGK or its underlying assets. However, it could indirectly influence market sentiment and volatility, which could affect VGK.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20