Published on: 2026-07-02
Source: People’s Republic of China in Russian –
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Saint Petersburg, July 2 /Xinhua/ — Preparatory work has been done in Russia for the mass introduction of the digital ruble scheduled for September 1. This was stated on Thursday by the head of the Bank of Russia /Central Bank/, Elvira Nabiullina, at the Financial Congress in Saint Petersburg.
According to her, by September 1, systemically important banks and large trading enterprises should begin using the digital ruble. The Central Bank sees great potential in the use of smart contracts for business, and the country continues to work on finding the most in-demand and convenient formats so that banks can develop services convenient for people and businesses, added E. Nabiullina.
The digital ruble, the issuance of which is planned by the Bank of Russia, will become a new form of the national currency in addition to the existing cash and non-cash forms of the ruble. Unlike bank transactions, all operations with digital rubles will be carried out on the platform of the Bank of Russia, which will free people from transaction fees and minimize tariffs for businesses.
The Bank of Russia announced in July 2025 about the mass adoption of the digital ruble starting from September 1, 2026. The largest banks in the country are to be the first to offer their clients the opportunity to use this form of currency, and by September 2028, this obligation will gradually be extended to all banks. –0–
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