Central Bank of Russia Delays Digital Ruble Rollout Indefinitely

Russia's central bank has put the nationwide rollout of its digital ruble on hold, opting to extend the pilot phase indefinitely.

Initially launched in August 2023, the testing phase involved 12 banks and hundreds of participants evaluating wallet functions, transfers, and automated payments.

Businesses also explored transaction capabilities, with a broader rollout originally scheduled for mid-2025.

Authorities have now decided to prolong testing to fine-tune technical aspects and assess economic models before committing to a full launch.

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Bank of Russia Governor Elvira Nabiullina emphasized that the delay allows financial institutions to develop approaches that best serve their clients. She stated that mass adoption will proceed only once all details are addressed, though no revised timeline has been provided.

Despite the postponement, Nabiullina remains optimistic about the digital ruble’s future, previously suggesting it could become a standard payment tool by 2031.

The currency is expected to offer free transfers for individuals and reduced transaction costs for businesses, potentially driving widespread use. Meanwhile, Russia continues to advance its digital asset regulations, recently implementing laws governing taxation and mining to further integrate cryptocurrencies into its financial system.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.