By July 1, 2025, major banks will be required to offer their clients the ability to conduct transactions with digital rubles. This includes opening digital ruble accounts, depositing cash, making funds transfers, and receiving digital rubles through the relevant infrastructure. The Bank of Russia plans to initiate large-scale use of the digital national currency from that date. It is essential that the digital ruble is accessible to both individuals and businesses and can be used as freely as other forms of rubles (physical money or bank deposits).
The Bank of Russia has submitted its proposals for amending relevant laws to the Russian Ministry of Finance.
Banks with a universal license are given more time to adjust their systems—their deadline is July 1, 2026—while other credit institutions must comply by July 1, 2027.
Additionally, the regulator intends to set deadlines for mandatory acceptance of payments in digital rubles by trade and service companies (TSCs). Companies with annual earnings over ₽30 million must comply by July 1, 2025; those with annual earnings over ₽20 million by July 1, 2026; and all other companies by July 1, 2027.
Following the large-scale launch of digital rubles, both banks and TSCs will be able to start accepting them as soon as their relevant infrastructure is ready, even ahead of the proposed deadlines.
Payments for purchases with digital rubles will utilize a universal QR code based on the National Payment Card System, which aims to help banks and TSCs avoid additional costs.
The digital ruble is a form of national currency designed to expand payment and funds transfer options. For individuals, all transactions with digital rubles will be fee-free. Both individuals and companies will have the option to choose which form of ruble they prefer. Digital ruble transactions are currently being piloted with participation from 12 banks. As of September 1, 2024, pilot testing parameters have been expanded to include more participants: now involving 9,000 individuals (previously 600) and 1,200 TSCs (previously 22).