Offline payments in digital rubles to become possible at later point, budget payments, smart contracts and cross-border payments currently prioritized - CBR

SOCHI. Oct 9 (Interfax) - The Central Bank of Russia plans to introduce payments in digital rubles at a later stage and is currently prioritizing payments into the budget, the development of smart contracts and cross-border payments, CBR Governor Elvira Nabiullina said at a press conference for the Finopolis 2025 forum.

The digital ruble is the third form of the Russian national currency that the CBR plans to issue in addition to the existing forms of cash and non-cash money. The CBR began conducting a pilot project with real digital rubles on August 15, 2023. The full-scale implementation of the digital ruble was scheduled to begin in July 2025, but the bank then postponed this to September 1, 2026.

"We are planning to come back to the matter of offline payments using digital rubles at a later stage; we consider our current priorities for the development of this area to be payments from the budget and into the budget. We see that this is very much in demand as a function of the digital ruble both at the level of the federal government and at the level of the federal subjects. I think that it will be convenient for citizens. The second aspect is developing smart contracts. This really is a new, very interesting and promising area. The third is cross-border payments. Thus, our priority right now is these three areas. But we will be sure to come back to offline at a later stage," Nabiullina said.

Asked about salary payments in digital rubles, she said that this would be "an additional possibility for people".

"They will be able to decide for themselves how to receive their salary - in cash or as a cashless transfer. It is their right to choose. And when the digital ruble becomes accessible for everyone, they will be able to make that choice," Nabiullina said.

She said that the CBR would shortly begin conducting test salary payments in digital rubles and would give its employees the option of participating in this pilot project. "And I intend to be one of them," she said.