Russia to introduce CBDC from next year...Full implementation by 2028

The Central Bank of Russia has finalized the phased rollout schedule for the Digital Ruble (CBDC, Central Bank Digital Currency).

On the 25th (local time), the Central Bank of Russia announced on its official website, "From September 1, 2026, digital ruble payments will be mandatory for large corporate clients with annual sales of 120 million rubles (about $1.5 million)," and added, "From September 2027, the requirement will expand to companies with annual sales of 30 million rubles (about $370,000), and full implementation is planned from 2028."

The digital ruble to be introduced will operate on a hybrid structure based on a distributed ledger directly controlled by the Central Bank of Russia, not a decentralized public blockchain like Bitcoin (BTC) or Ethereum (ETH). Interest will not be paid on held balances, and no benefits such as cashback will be provided.

This schedule has been delayed by over a year compared to the original plan. The main reason cited is the difficulty Russian banks have faced in technological transition due to Western sanctions. The offline payment function for the digital ruble has also been excluded due to concerns over system instability in power outage situations.