Odaily Planet Daily News Sources familiar with the matter said that the Reserve Bank of India has begun testing its wholesale central bank digital currency (CBDC) in the call money market and has already conducted some transactions. More use cases will be tested in the coming days, with the roadmap covering the entire wholesale space, such as asset tokenization, repo trading, and more. The e-rupee will shift from bonds to redemption funds and buybacks. Once the entire segment is covered, a final pilot will be conducted for the entire wholesale segment.
The nine banks participating in this digital rupee pilot are the same banks that participated in the Reserve Bank of India’s government securities wholesale pilot in November last year, with the addition of Federal Bank. The nine banks are State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC Bank. (Bitcoin.com)