Russia Accelerates Digital Ruble Rollout Ahead of Full-Scale Launch

Russia has escalated its digital ruble integration, deploying the central bank digital currency (CBDC) across budget systems and banking infrastructure. The MOVE precedes a mandated full-scale adoption by September 2026 for major financial institutions, with smaller entities given until 2028 to comply. Exemptions apply only to microbusinesses generating under ₽5 million annually.

The phased implementation mirrors global CBDC trends but distinguishes itself through aggressive timelines. State-linked transactions have already migrated to the digital ruble since January, while federal institutions now accept it for budgetary transfers. This third FORM of national currency—positioned alongside cash and electronic money—signals Moscow’s push to modernize financial sovereignty.

Testing phases deliberately bypassed retail channels, focusing instead on institutional readiness. The strategy underscores Russia’s prioritization of macroeconomic control over consumer adoption—a contrast to China’s digital yuan pilot programs targeting retail payments.