The Bank of Russia will shift the timeline for the mass introduction of the digital ruble. This was announced by the Chairman of the Central Bank, Elvira Nabiullina.
The transition to the widespread adoption of the digital ruble will take place later than originally planned. Before that, the regulator intends to carefully work out all the details of the pilot project and consult with banks on the optimal economic model for their clients.
Initially, it was planned to begin the mass introduction of the digital ruble from July 1, 2025. However, the new date will be announced later, as banks are requesting a postponement of the introduction.
The Central Bank noted that the pilot project is proceeding successfully. It involves 15 banks, a limited number of clients (about 1,700 citizens), and about 30 companies.
The Bank of Russia continues to receive questions from market participants regarding the scope of necessary revisions and requests to postpone deadlines. Nabiullina noted that the main task now is to ensure that the digital ruble is in demand and inspires confidence among both citizens and businesses.
The digital ruble is a new form of Russian national currency, issued in addition to traditional cash. One cash ruble is equal to one digital ruble.
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