Digital Ruble: Russia Postpones CBDC Launch Until Mid-2026

Will the delay in implementing the digital ruble impact its future and adoption?

Introduction: Russia and the Digital Ruble

The Bank of Russia, after many years of research and testing, has decided to postpone the introduction of the digital ruble, the Russian version of the Central Bank Digital Currency (CBDC), until mid-2026. Initially, the mass introduction of this currency was planned for July 1, 2025, but the head of the Central Bank, Elvira Nabiullina, announced the need to change the launch date.

“The digital ruble is not only a new form of money, but also new technological and regulatory challenges,” comments Alla Bakina, head of the Central Bank’s domestic payment system department.

Reasons for Postponement

The delay in the full implementation of the digital ruble is due to several key factors:

1. Fears of System Failure

Banks are concerned about possible system failures during a power outage, which could disrupt the functioning of the digital ruble.

2. Technical Problems with Databases

Technical problems with databases in automated banking systems (ABS) also affect the decision to postpone. Banks have not yet been able to abandon solutions from the American company Oracle, which left the Russian market in 2022.

3. Agreeing on the Economic Model

The Central Bank wants to agree on an economic model with banks that will be convenient for users, which requires additional time for consultations and analyses.

Progress in Digital Ruble Testing

Over the past few years, the number of participants in the pilot project has grown. In 2023, the digital ruble was tested by 500 people and 50 companies, and now the number of its individual users is 2000 people, and it is planned to connect another 70 companies to the project.

Transaction Statistics:

• P2P transactions: Approximately 55 transactions between individuals.

• Payments for Goods and Services: Approximately 15 payments.

• Smart Contracts: Over 12 smart contracts deployed on the digital ruble platform.

Is Investing in the Digital Ruble Safe?

The delay in the implementation of the digital ruble may raise doubts about its future and adoption. However, given the Bank of Russia's commitment to the development of this technology and the growing interest in CBDCs around the world, the digital ruble has the potential to become an important element of the Russian financial system.