Russia Central Bank Chief Says Digital Ruble Ready for September Rollout

Russia's central bank has completed preparations to begin nationwide use of the digital ruble in September.

Decrypt reported on July 2 that Bank of Russia Governor Elvira Nabiullina told the central bank's financial conference that all preparations for broad adoption of the digital ruble had been completed. Systemically important banks and large retailers will participate in digital ruble payments.

The technical work is finished, Nabiullina said, adding that extensive preparatory work had been carried out for this stage. The central bank is continuing discussions with banks on the functions needed to make the digital ruble a convenient payment method for both households and businesses.

Russia passed related legislation in July 2025, requiring major banks to handle the digital ruble starting Sept. 1. The rollout comes about three years after Russian President Vladimir Putin signed the bill into law.

Beyond the digital ruble itself, the Bank of Russia is also considering pilot programs for corporate smart contracts and for opening digital wallets on banks' balance sheets. The aim is to broaden the digital ruble's use beyond payments to a wider range of financial services.

Demand remains limited so far. The Moscow Times, citing a survey by a state-run polling agency, reported that many Russians do not understand why a new form of money is needed alongside cash and existing electronic money, and that public interest in the digital ruble remains low.

Even so, the central bank plans to expand the number of participating financial institutions. It is also considering a fee of about 0.67 rubles per digital ruble transaction, the report said.