Russia sets 2026 launch date for digital ruble as public remains wary

Russia’s lower house of parliament has approved a bill that sets Sept. 1, 2026, as the launch date for the digital ruble, even as a new poll shows most Russians are reluctant to use the central bank digital currency.

Central Bank Digital Currencies, or CBDCs, are digital forms of a country's fiat currency, issued and backed by the central bank. Unlike decentralized cryptocurrencies like bitcoin, CBDCs are managed by sovereign entities, meaning the apex bank controls their supply, distribution, and transactions.

A recent survey by state-run VTsIOM found that 51% of respondents were unwilling to adopt the digital ruble, while only 35% said they would try it. Four in 10 respondents saw “no benefits,” and concerns ranged from data security (12%) to government surveillance (8%). Only 7% felt well‑informed about the project.

Under the bill passed Tuesday, merchants with annual revenue above 120 million rubles must accept digital‑ruble payments starting Sept. 1, 2026. Mid‑sized firms have until 2027, and all others until 2028. The law also mandates a free universal QR code payment system run by the National Payment Card System, operator of Russia’s Mir network.

The legislation still requires approval from the Federation Council and President Vladimir Putin, steps seen as procedural. Lawmakers said the phased rollout and QR‑code mandate will cut fees and spur adoption, though small merchants without internet access and those with less than 5 million rubles in annual sales are exempt.

Russia’s Central Bank has been testing consumer pilots for its CBDC since 2023 and initially planned to roll out the digital ruble on July 1, 2025, touting the CBDC as a way to modernize payments and reduce reliance on Western networks amid sanctions. The launch was ultimately delayed due to pushback from merchants and banks like Sberbank.