Financial authorities in the Russian Federation are expanding the geography and participation in the pilot project for the nation’s digital ruble currency. The sovereign coin is already being introduced to some of the more distant corners of the vast country, including annexed Crimea, ahead of the full-scale launch scheduled to begin in 2026.
Digital Ruble Pilot Sees Significant Transaction Volume and User Growth
Russia appears committed to the implementation of its central bank digital currency (CBDC). The third form of the national fiat, complementing cash and bank money, is being integrated into budget payments, and its user base and participating territories continue to expand.
Trials with the digital version of the Russian ruble are set to increase their coverage, according to a high-ranking representative of its issuer, the Central Bank of Russia (CBR).
The pilot project for the digital ruble is expanding while access to its platform is widening, said Deputy Governor Zulfia Kakhrumanova. Quoted by TASS on Monday, she detailed:
More than 20 banks are participating in the pilot, and over 90,000 transactions have been conducted. Around 2,500 users are involved.
“We are gradually and systematically expanding the number of participants and broadening the range of services,” the central bank executive emphasized.
Following initial development and testing, Russia launched the pilot project for the digital ruble in 2023, involving a limited number of users, including banking institutions, businesses, and private individuals.
The CBR had planned to open the CBDC system for public use in 2025 but decided to postpone the launch by a year to allow organizations adequate preparation time.
According to the latest schedule published in June, the state-issued coin will be introduced in several stages, with the first one commencing on September 1, 2026. By this date, Russia’s largest banks are expected to be able to service digital ruble operations for their clients.
In the interim, testing has been extending to new areas of implementation and territories within the Russian Federation.
Kakhrumanova reminded that earlier this year, the central bank, in collaboration with the Finance Ministry and the Federal Treasury, launched smart contracts based on the digital ruble in the republics of Chuvashia and Tatarstan, as well as the southern Russian city of Rostov.
Sanctioned Crimea to Participate in Digital Ruble Experiment
The Republic of Crimea, a region annexed by Russia from Ukraine in 2014 and subject to Western sanctions, will be included in an experiment to introduce the digital ruble to the budgeting process, announced Russian lawmaker Anatoly Aksakov this week.
Aksakov, who heads the Financial Markets Committee at the State Duma, the lower house of the Russian parliament, is convinced that the CBDC possesses significant potential to enhance transparency in the allocation and spending of government funds.
Quoted by the RIA Novosti news agency, the Russian deputy explained that the digital currency will ensure the targeted utilization of state funds, which are currently sometimes diverted for unintended purposes.
Anatoly Aksakov believes that the digital ruble will achieve successful adoption within the public sector and anticipates a growth in user numbers.
He also noted that he was the first Russian official and Crimean to receive a digital ruble salary. Speaking to Sputnik in Crimea radio, he remarked:
I’m the first person to receive a salary in digital rubles – a Crimean guy from the village of Vilino, paid at a cafe and donated to charitable foundations.
While authorities in Moscow have been working to accelerate the introduction of the Russian CBDC, following President Putin's call for wide implementation this spring, the Bank of Russia itself recently acknowledged that it does not anticipate mass adoption by the general population.
The primary benefits of the central bank digital currency are expected to be realized in the public sector and the broader economy, according to statements made by a top advisor to CBR Governor Elvira Nabiullina in November. Kirill Tremasov indicated that there were no obvious advantages for consumers compared to traditional bank money.
Last week, Russia’s Federal Treasury, an executive body responsible for overseeing the execution of the country’s federal budget, announced that it would begin accepting payments in digital rubles starting January 1.