Russia’s Digital Ruble Set to Go Live as Banks Confirm Readiness for September Deadline
- Bank of Russia Governor Elvira Nabiullina said technological preparations for the digital ruble are complete ahead of its September 1, 2026 nationwide rollout.
- All 12 systemically important banks and large retailers must accept the central bank digital currency by the deadline, under a July 2025 State Duma mandate.
- Two independent surveys found weak public appetite, with only about one in ten working Russians willing to take their full salary in digital rubles.
Russia is set to switch on nationwide use of its digital ruble on September 1, after Bank of Russia Governor Elvira Nabiullina declared the central bank digital currency technologically ready for mass deployment despite persistent signs of weak public demand.
“Technologically, everything is ready. We have carried out extensive preparatory work for this stage,” Nabiullina stated, framing the launch as the culmination of a rollout that began when President Vladimir Putin signed the currency into law nearly three years ago.
Under a law the State Duma passed in July 2025, all 12 of Russia’s systemically important banks must support digital ruble transactions from September 1, while large retailers will also be required to accept payments in the new currency.
To encourage participation, the central bank will pay banks a commission for each payroll payment processed in digital rubles, set at 0.67 rubles per instruction with a minimum of 10 rubles per payroll distribution. A transition period runs through July 2027, giving smaller institutions and merchants additional time to comply.
An Ongoing Effort
Nabiullina characterised the effort as ongoing rather than finished. “We want the digital ruble to be genuinely useful to people and businesses,” she noted, signalling that features and access would continue to expand after the initial launch.
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The technical readiness contrasts with a cool public reception. A VTsIOM survey found that most Russians did not understand why they needed a third form of money alongside cash and bank deposits, viewing the concept as abstract.
A separate SuperJob poll reinforced the reluctance, with only about one in ten economically active Russians willing to receive their full salary in digital rubles and roughly 5% open to taking part of their wages that way. Participation in salary payments is voluntary, including for government employees.
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The post Russia’s Digital Ruble Set to Go Live as Banks Confirm Readiness for September Deadline appeared first on Crypto News Australia.
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