The Russian digital ruble, the nation’s central bank digital currency (CBDC), will finally launch nationwide on September 1, 2026, the Central Bank claims.
The Central Bank says that it expects the largest commercial banks in the nation to start providing their clients with a full range of CBDC transaction options as of September next year.
Digital Ruble Rollout: Can Moscow Prevent Further Delays?
Its previous statements on the matter would appear to suggest the Central Bank will follow up with an order for smaller and regional banks to follow suit in September 2027.
The digital RUB had been slated to launch on July 1 this year. But the Central Bank abruptly postponed the launch “indefinitely” in early March. The bank stunned the public when it initially gave no alternative launch timeline.
This led to a flurry of speculation that Moscow was preparing to ditch its CBDC. Others suggested Moscow might push back the rollout to at least 2027.
Some forecasted that the Central Bank would pursue crypto-powered alternatives to the digital ruble. They cited a lukewarm reception for digital RUB plans from both the public and the banking sector.
However, the Russian state-run news agency TASS reported that some of the biggest banks in the country are looking forward to the launch.
The Russian Central Bank in Moscow. (Source: NVO [CC BY 2.5])
A VTB spokesperson said the megabank was already technologically prepared for the rollout. Sovcombank, meanwhile, said that it would be “completely ready” for customers to make digital RUB transactions by the Central Bank’s deadline.
Both banks are currently working with Moscow on the ongoing digital ruble pilot. VTB said that “as the first bank to join the pilot project,” it was “technologically ready” for the launch. It added:
“We are interested in providing our clients with access to the latest financial instruments as soon as possible. We expect a wide-reaching digital ruble launch for Russian citizens.”
Legislation Heads to State Duma
The Central Bank says it has sent a draft bill to the State Duma. It is hoping to rapidly enshrine its demands to the banking sector in Russian law.
Lawmakers have previously claimed that the Russian CBDC will be interoperable with the digital currencies issued by other BRICS member states.
Some have claimed that it will be put to use in the cross-border trade sector, where it will help Russian traders avoid sanctions regimes.
But critics claim that the coin may violate citizens’ privacy rights. They also complain that the digital RUB will be hard to use in more remote parts of Russia, where internet connectivity is often unstable.
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