Russia began testing its new digital ruble with consumers on Tuesday, in the hope blockchain technology will help it evade sanctions and tighten control over its citizens.
The testing phase comes as the ruble lingers at its lowest level against the dollar since March 2022, weeks after Moscow launched its full-scale offensive in Ukraine.
While Moscow has been mulling the idea of creating a digital currency for years, development of the digital ruble took off after Western sanctions blocked Russia from parts of the global banking system.