Representatives of the crypto market and the Central Bank of the Russian Federation began testing the sector of the digital currency system and conducted cash transactions between the owners.

In December last year, the organization of a platform for regulating cryptocurrency was completed, a spokesman for the press service said. More than 10 banks became participants in the project to test the system. Three institutions have fully entered the site to test the project. Two of them provided a range of services for transactions between cryptocurrency holders using mobile technology. The rest of the institutions participating in the project will join the project upon completion of the technical improvements on the software.

During the testing period of the site, it is planned to:

• issuance of electronic currency;
• introduction of virtual wallets into the banking system;
• transactions between holders.

The second stage provides:

• carrying out actions to pay for goods and a range of services in the business environment;
• transactions of payments for the provision of public services;
• organization of mobile contracts;
• cooperation with the Treasury of the Russian Federation.

Subsequently, it is planned to introduce payments through online platforms. It is also expected to organize interaction with financial participants and economic platforms. In the future, the possibility of implementing operations with virtual currency for foreign clients is envisaged.