Russia’s bank postponed the massive introduction of a digital ruble

The regulator will go to the mass implementation of the digital ruble after solving all the details on the pilot and consults with the banks, Nabiullina explained. This is necessary to create an economic model that is the most attractive for business and people.

“We can call the new mass launch date later. I want to emphasize: the project continues, we will expand it both for the number of participants and for the set of operations, ”said the head of the Central Bank.

Why are the deadlines change? 15 banks, 1.7 thousand Russians and about 30 companies participate in the pilot project, said Nabiullina. “The digital ruble represents many more opportunities for intelligent contracts, and we want this address to be one of the key, one of the priorities in the development of this project. All this, of course, requires additional discussion and preparation, ”concluded the president of the Bank of Russia.

• The Central Bank began working to create a digital ruble in 2021. A pilot project was launched with a digital ruble in August 2023. Operations with this form of proof mode are carried out by Sber, VTB, ALFA-BANK, T-BANK, PROMSVYAZBANK, SOSKOMBANK, ROSSELKHOZBANK, GAZPROMBANK and other credit organizations.
• In early January, participants in the financial market informed RBC that several banks considered the hurried introduction of a digital ruble in July and proposed to postpone the release date of a new currency form by 2026.
• In February, the Central Bank reported an increase in myths about digital ruble: in instant messagers and social networks, they declared that the transition would be forced and lead to limiting expenses. The regulator recalled that the digital ruble will act as one of the forms of the national vascular, in addition to cash and money, and the decision on whether to use it will remain with a specific person.