Russia Finance Ministry Makes First Salary Payments in Digital Rubles, Amount Undisclosed
Summary
- Russia’s Finance Ministry said it made its first salary payments to some employees in digital rubles.
- The ministry said it had earlier conducted a budget-spending pilot involving about 16 million digital rubles ahead of the payroll rollout.
- It said use of the digital ruble will be expanded in stages through 2028, broadening its use for transfers and payments.
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Russia has paid some government employees in a central bank digital currency for the first time.
The Russian Finance Ministry said on October 2 that it began paying salaries in digital rubles this month to employees who opted in, according to an industry report published on October 4.
The ministry did not disclose how many employees received the first salary payments in digital rubles or the total amount paid. It was the first time the Russian government had applied the digital ruble to its internal payroll system.
Russia recently disbursed about 16 million digital rubles through a 2025 federal budget spending pilot. The Finance Ministry said the payment infrastructure tested in that experiment was used for the latest payroll process.
The digital ruble is a digital currency issued directly by the Central Bank of Russia. The central bank and the Finance Ministry are jointly pushing to introduce the digital ruble into the government's budget system.
Russia has expanded digital ruble use since September among major banks and large retailers. The Central Bank of Russia says individuals can open digital ruble accounts only if they choose to and use them for transfers and payments.
The rollout will be expanded in stages through 2028.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul