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The digital ruble of Russia, the country’s central bank digital currency (CBDC), is set to officially launch nationwide on September 1, 2026, according to the Central Bank.
The Central Bank anticipates that the largest commercial banks in the country will begin offering their customers a comprehensive array of CBDC transaction services starting in September of next year.
Digital Ruble Rollout: Can Moscow Prevent Further Delays?
Previous remarks on the subject imply that the Central Bank plans to issue a directive for smaller and regional banks to comply by September 2027.
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The launch of the digital RUB was initially scheduled for July 1 of this year. However, the Central Bank unexpectedly delayed the launch “indefinitely” in early March, leaving the public surprised by the lack of an alternative timeline.
This situation sparked considerable speculation regarding Moscow’s potential abandonment of its CBDC. Some suggested that the rollout might be postponed until at least 2027.
There were predictions that the Central Bank might explore crypto-based alternatives to the digital ruble, citing a tepid response from both the public and the banking industry regarding digital RUB initiatives.
Nonetheless, the state-run news agency TASS reported that several major banks in the nation are optimistic about the upcoming launch.
The Russian Central Bank in Moscow. (Source: NVO [CC BY 2.5])
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A spokesperson from VTB indicated that the megabank is already technologically equipped for the rollout. Sovcombank, on the other hand, stated that it would be “fully prepared” for customers to conduct digital RUB transactions by the Central Bank’s deadline.
Both banks are currently collaborating with Moscow on the ongoing digital ruble pilot. VTB noted that “as the first bank to join the pilot project,” it is “technologically ready” for the launch. It further stated:
“We are keen on providing our clients with access to the latest financial instruments as soon as possible. We anticipate a broad digital ruble launch for Russian citizens.”
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Legislation Heads to State Duma
The Central Bank has stated that it has submitted a draft bill to the State Duma, aiming to quickly formalize its requirements for the banking sector into Russian law.
Lawmakers have previously asserted that the Russian CBDC will be compatible with the digital currencies issued by other BRICS nations.
Some have suggested that it will be utilized in the cross-border trade sector, assisting Russian traders in circumventing sanctions.
However, critics argue that the coin may infringe upon citizens’ privacy rights and express concerns that the digital RUB will be challenging to use in more remote areas of Russia, where internet access is frequently unreliable.
The post Russia’s Digital Ruble to Roll Out in September 2026, Says Central Bank appeared first on Cryptonews.
