Central Bank, Russian Treasury plan to test benefit payments in digital rubles in autumn - roadmap
MOSCOW. Feb 5 (Interfax) - The Central Bank of Russia and the Federal Treasury plan to launch an experiment on August 25 to use the digital ruble for social benefits and capital expenses, according to the roadmap for using the digital ruble in the budget process which was reviewed by an Interfax source.
The Central Bank, the Finance Ministry and four banks from the pilot group tested the use of the digital ruble in the budget process at the end of last year, in particular for paying scholarships and fines.
According to the roadmap, the Central Bank and the Treasury's experiment will last until the end of September. However, the document does not specify which specific benefits will be tested.
"Currently, we are working with the Finance Ministry and the Federal Treasury on different scenarios for using digital rubles in the budget process," the Central Bank's press service told Interfax.
This concerns both the transfer of funds from the state to citizens, as well as from citizens to the state, it said.
"The conditions of the experiment are still being discussed," the Finance Ministry's press service told Interfax.
The use of digital rubles will be voluntary - individuals will decide whether or not to use them, and how to receive pensions, salaries, benefits and so on, in cash, on cards, or in the future in digital rubles, the CBR said.
According to the roadmap, before the start of the experiment, the Treasury's digital ruble account (wallet) will be opened by August 8. The activation of the Federal Treasury on the digital ruble platform, and specifically the issuance and linking of the Treasury's industrial keys to its account in the digital ruble platform's working environment, is expected by August 22.
It is planned that the acceptance of digital rubles into the Treasury's electronic wallet, followed by a transfer to the federal budget in rubles, will be enabled by March 2026.
In addition, consultations between the Finance Ministry and the Treasury with contractors for participation in the experiment related to carrying out government contracts are scheduled to take place by May 2.
The digital ruble is the third form of the Russian national currency which the Central Bank plans to issue alongside existing forms of money (cash and non-cash). The CBR has been running a pilot with real digital rubles since August 15, 2023. The first stage of testing is taking place in the friends and family mode with the participation of around 600 individuals from among the employees of 12 banks. The second phase of the pilot began on September 1, with the number of individual participants increasing from 600 to 9,000 and the number of legal entities growing from 22 companies to 1,200. It is expected that 19 banks will join the second phase of the pilot.
The introduction of the digital ruble into widespread use is expected to start gradually from July 1, 2025. From this date, the CBR intends to require major banks to provide clients with the ability to conduct transactions with digital rubles. Banks with a universal license are given more time to upgrade their systems - until July 1, 2026, while other credit institutions have until July 1, 2027.
