Russia begins large-scale deployment of digital ruble

Russia has initiated the large-scale deployment of the digital ruble, a central bank digital currency (CBDC). As of September 1, 2026, the digital ruble is mandatory for 12 systemically important banks. Additionally, merchants who are clients of these banks and generate an annual turnover exceeding 120 million roubles (approximately $1.39 million) must accept and process payments using the digital currency.

The rollout follows a phased approach. By September 1, 2027, the obligation will extend to all banks with a universal license and merchants with an annual turnover above 30 million roubles. By September 1, 2028, the requirement will cover all other banks and merchants with turnovers exceeding 5 million roubles.

All digital ruble transactions are conducted on the Bank of Russia platform, which manages user wallets and digital holdings. This move coincides with Federal Law No. 282-FZ, which maintains the prohibition of using cryptocurrencies for domestic payments while extending restrictions on foreign currency cash withdrawals.