Russia’s central bank has rolled out the digital ruble across the country, and Governor Elvira Nabiullina said the system added nearly 87,000 new accounts over the past 10 days, with more than 50,000 transactions recorded in that period. She said a small number of banks ran into technical issues while opening accounts and processing some transactions, but those problems have already been resolved, with no widespread outages or a large volume of complaints.
The Bank of Russia is also trimming the number of steps required to open accounts and complete transactions while keeping security protections in place. The nationwide launch follows real-user testing that began in 2023. Use of the digital ruble will remain optional for consumers.
Under the rollout plan, 12 major Russian banks and retailers with annual revenue above 120 million rubles, or about $1.42 million, are required to accept digital ruble payments. More companies are set to be brought into the system before 2028.
Russia’s digital ruble has gone live nationwide, and Bank of Russia Governor Elvira Nabiullina said the project added nearly 87,000 new accounts over the past 10 days. More than 50,000 transactions were recorded during the same period.
Nabiullina said a small number of banks encountered technical problems when opening accounts and carrying out some transactions. Those banks have already fixed the issues, and there were no widespread failures or a large number of complaints.
The central bank is reducing the number of steps needed for account opening and transactions while keeping security protections at the same level.
Nationwide rollout follows testing that began in 2023
The digital ruble moved to a nationwide rollout after real-user testing that began in 2023. Users can choose whether to use it.
Under the current framework, 12 major Russian banks and retailers with annual revenue above 120 million rubles, or about $1.42 million, must accept digital ruble payments. More businesses will be added before 2028.
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