Belarus Plans Digital Ruble Launch by 2026 to Enhance Financial Security
1min read Belarus is making significant strides in its plans to introduce a central bank digital currency (CBDC), with the digital ruble expected to enter full circulation by the latter half of 2026. This initiative is a top priority for the national bank of Belarus, as stated by its Chairman, Roman Golovchenko. The digital ruble aims to enhance the security and traceability of funds, allowing the state to monitor the movement of digital assets within the financial system.
The development of the digital ruble is structured into three key phases: designing the platform architecture, developing proprietary software, and establishing a regulatory framework. The rollout is planned to begin with businesses in 2026, followed by government entities and the general public in 2027. The digital ruble is also envisioned to play a crucial role in cross-border payments, with Belarus collaborating closely with Russia, which is also pursuing its own CBDC initiative.
The Belarusian Center for Banking Technologies has initiated the development of the digital ruble platform, selecting the open-source Hyperledger Fabric blockchain as its foundation. This choice aligns Belarus with other central banks, including Russia and Brazil, that are leveraging Hyperledger technology for their CBDC projects. The platform’s initial focus is on core functionality, with plans to expand into a broader range of financial services.
Belarus’s push toward a digital ruble is driven by the need to adapt to the growing adoption of cryptocurrencies and the impact of international sanctions. Introducing a CBDC allows countries like Belarus and Russia to establish independent financial channels and reduce their exposure to external economic pressures. The digital ruble is intended to complement existing cash and electronic forms of the Belarusian ruble, providing an additional layer of state-issued digital currency.
In parallel, Russia has faced delays in its own digital ruble rollout. The Russian pilot, which began in August 2023 with 12 participating banks, focused on wallet creation, transfers, and automated payments but encountered hurdles that prompted the central bank to prioritize further refinement before mass adoption.
Belarus’s commitment to digital innovation is evident in its adoption of a comprehensive legal framework for cryptocurrencies in 2018. This framework introduced streamlined accounting standards and facilitated crypto transactions for businesses, positioning Belarus as one of the more progressive nations in the region regarding digital assets.
