Russia’s leading banks will add support for the digital ruble on September 1, 2026

What’s new? The Bank of Russia has proposed new dates for the implementation of the digital ruble and sent the relevant amendments to the bill to the State Duma. So, the largest banks should add support for the asset by September 1, 2026.

Information in the central bank’s Telegram channel

What else is known? According to the central bank’s plan, by the designated date, customers of leading banks should have the opportunity to make transactions with the digital national currency.

At the same time, large trading companies with annual revenues of more than 120 million Russian rubles (RUB), which are clients of these banks, should open their infrastructure and add the ability to pay for goods and services in digital rubles.

Other banks with a universal license, as well as their trading company clients with annual revenues of more than 30 million RUB, must set up their systems by September 1, 2027.

Even longer deadlines for setting up systems to support the digital ruble are allocated to all other banks and merchants with annual revenue of less than 30 million RUB: until September 1, 2028.

This obligation does not apply to retail outlets with annual revenue of less than 5 million RUB.

A universal QR code based on a solution of the National Payment Card System (NPCS) will be used to pay for purchases with the digital ruble. It is already available at banks and retail outlets operating through the Faster Payments System (FPS).

The digital ruble is a central bank digital currency (CBDC). It is the third form of national currency along with cash and non-cash money and is also issued by the central bank.

The use of the digital ruble, according to the central bank, will not be mandatory, while all transactions with it will be free of charge for citizens.

The CBDC project is being implemented in stages. Thus, in December 2021 a prototype of the digital ruble platform was created, in 2022 testing of the prototype platform and development of a roadmap for implementation, as well as the development of legislation began.

August 2023 saw the start of piloting of real digital ruble transactions involving a narrow range of customers of 13 banks. And in September 2024, the parameters of the pilot were expanded with the possibility of connecting up to 9000 people and 1200 companies.

15 banks are involved in piloting transactions with real digital rubles: Alfa-Bank, DOM.RF, Ingosstrakh Bank, VTB, GPB, MTS Bank, Ak Bars, Promsvyazbank, Sovcombank, Bank Sinara, TCB, Rosselkhozbank, TBank, Sberbank, and Tochka.