Mass implementation of digital ruble may begin on Sept 1, 2026 - Central Bank of Russia
MOSCOW. June 25 (Interfax) - The largest systemically important banks will be required to provide their clients with the option to conduct transactions using the digital ruble starting September 1, 2026, according to a proposal submitted by the Central Bank of Russia to the State Duma.
Retail companies that are clients of major banks and had annual revenue exceeding 120 million rubles in the previous year must also open their infrastructure to digital rubles and enable payments for goods and services using the digital ruble from the same date, the CBR said.
The Central Bank classifies 11 credit institutions as systemically important banks. These are Sberbank, VTB, Alfa-Bank, T-Bank, Russian Agricultural Bank, Gazprombank, Sovcombank, PSB, Moscow Credit Bank, Raiffeisenbank and UniCredit Bank, as well as six banks from the list of significant players in the payment services market - Ozon Bank, Ural Bank for Reconstruction and Development, Bank Saint Petersburg , Pochta Bank, Russian National Commercial Bank and Russian Standard Bank.
Other banks with a universal license, as well as their corporate clients with annual revenue exceeding 30 million rubles, will have more time to adjust their systems, until September 1, 2027. The remaining banks and merchants with annual revenue below 30 million rubles will be required to work with the digital ruble starting September 1, 2028. This obligation will not apply to retail outlets with annual revenue of less than 5 million rubles.
"The new timeline was established following discussions with market participants and relevant ministries. It accounts for the time needed by banks and retailers to adapt their systems," the Central Bank said.
Payments with digital rubles will be processed through a universal QR code system developed by the National Payment Card System (NPCS). All banks must complete technical preparations to support this system by September 1, 2026.
The Central Bank's board of directors will determine the deadlines by which banks must connect merchants to the universal QR code system.
The NPCS universal QR code enables acceptance of all payment types, including banks' pay services, the Faster Payments System (FPS), installment services, and in the future the digital ruble. It is also available across the entire network of banks and merchants operating through the FPS. This reduces banks' integration costs, the Central Bank said.
The digital ruble represents a third form of Russia's national currency which the Central Bank plans to issue alongside existing cash and non-cash forms. The regulator has been conducting a pilot with real digital rubles since August 15, 2023.
It was previously assumed that large banks would be required to provide clients with the ability to conduct digital ruble transactions starting July 1, 2025. Banks with a universal license would have to comply by July 1, 2026, while other credit institutions would have until July 1, 2027. These requirements are outlined in draft law no. 811008-8, which also introduces a unified payment QR code to the market, with the NPCS as its sole operator. The bill was submitted to parliament at the end of last year and passed its first reading on May 22.
The Central Bank's proposals which have been submitted to the State Duma amend this draft law. The regulator published them several working days after President Vladimir Putin called on the Central Bank and the government to accelerate the mass adoption of the digital ruble and finalize its rollout timeline. This request was made during Putin's speech at the St. Petersburg International Economic Forum (SPIEF 2025).
