RBI’s retail CBDC generates over 750,000 transactions so far: Deputy Guv

The Reserve Bank of India’s (RBI’s) retail Central Bank Digital Currency (CBDC) pilot has so far generated about 770,000 transactions, with a user base of 50,000 customers and 5,000 merchants, the central bank said on Wednesday.

It is looking to expand the scope of the pilot by including nine more cities into the fold from the current five cities where the pilot is being undertaken.

Further, five more banks will be roped in for pilot runs and eventually it will be extended to all banks in the system. Currently, eight banks are participating in the pilot.

“Total number of transactions … is around 770,000 till about a few days ago. But these are small value transactions,