Russia's Digital Ruble Launch Delayed Indefinitely

The Russian Central Bank has indefinitely postponed the full launch of its digital ruble project, according to a report by CryptoSlate. The project, which has been in a testing phase since August 2023, was initially planned to achieve broader adoption by July 2025.

The pilot program involved 12 banks and about 600 employees, testing wallet functionality, transfers, and automatic payments. Businesses have also been exploring transactions using the digital ruble. However, the launch plan has been delayed, with no new timetable announced.

The Russian government has decided to extend the pilot phase to further refine the technical aspects and allow banks to evaluate the economic model. Russian Central Bank Governor Elvira Nabiullina confirmed this delay, emphasizing that the additional time will help financial institutions adopt a model suitable for their customers. She also stressed that the postponement of the launch is to ensure that the digital ruble benefits all stakeholders.