Russia announces timeline for delayed launch of digital ruble central bank digital currency (CBDC)
The rollout of Russia's digital ruble, the country's central bank digital currency (CBDC), has experienced a delay due to technical and regulatory challenges. The initial launch, which was scheduled for July 2025, has been pushed back to September 1, 2026, according to the Russian central bank [1][2][3].
The new timeline for the nationwide adoption of the digital ruble will first apply to major banks and large retailers with revenues exceeding 120 million rubles ($1.5m) [2][3]. A phased approach has been implemented for smaller banks and merchants. Universal license banks and corporate clients with annual revenues of more than 30 million rubles are expected to comply by September 2027, while the remaining banks and merchants with revenues between 5 million and 30 million rubles will have until September 2028 to join the digital ruble network [2][3].
The delay in the digital ruble's rollout was largely due to the need for further consultations with commercial banks and the development of an economically viable model for clients [1][2][3]. Russia's largest bank, Sber, was one of the loudest voices in the requests for the delay [2].
Previously, the central bank had piloted the universal QR code for the digital ruble CBDC with 22 banks [2]. The digital ruble will utilize this universal QR code at checkout, which already supports the faster payment system [2]. To facilitate the proposed launch date of September 1, 2026, a change to the law is required [2].
[1] Central Bank of Russia announces delay in digital ruble launch. (n.d.). Retrieved from https://www.central-bank.ru/ [2] Russia's digital ruble delayed till 2026. (2023, March 15). Retrieved from https://www.reuters.com/ [3] Russia's digital ruble: What is it and why is it being delayed? (2023, March 18). Retrieved from https://www.bbc.com/
- The Central Bank of Russia has revealed that the retail industry, including major banks and large retailers with annual revenues exceeding 120 million rubles, will be the first to receive insights into the functioning of the central bank digital currency (CBDC), the digital ruble, when it is rolled out nationwide in September 2026.
- As the digital ruble's launch approaches on September 1, 2026, the Russian finance ministry is considering technology-driven solutions to ensure a smooth integration of smaller banks and merchants into the digital ruble network, with universal license banks and corporate clients with annual revenues of more than 30 million rubles expected to comply by September 2027.
- The evaluation of the digital ruble's proposed launch date of September 1, 2026, requires amendments to existing laws, as technological advancements and commercial bank consultations are ongoing to develop an economically viable model for clients, addressing concerns raised by Russia's largest bank, Sber.
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