Russia's Digital Ruble Launch Delayed Until 2027

A Russian economist has suggested that the rollout of the nation's Central Bank Digital Currency, the digital ruble, may be delayed until 2027. Originally, the digital ruble was scheduled to launch on July 1, 2025. However, the Central Bank recently postponed the launch indefinitely without providing an alternative timeline.

According to Alexey Voylukov, an MBA professor of business practice in digital finance at the Presidential Academy in Moscow, the Central Bank will need to offer incentives to encourage public use of the digital ruble. Voylukov stated that in the most optimistic scenario, ordinary Russians might start using the digital ruble in stores by the second half of 2026. However, he considered a national rollout in 2027 to be a more realistic timeline.

Voylukov's comments come in contrast to recent statements from the finance ministry, which claimed that the digital ruble was "almost ready" for a nationwide launch. Earlier, the Russian Finance Minister Anton Siluanov had stated that the digital ruble would launch next year, citing successful transactions and the token's reliability. Siluanov also mentioned that Moscow would focus on the token’s use in the commercial banking sector for the remainder of 2025, with 15 major banks currently testing the token.

Despite the Central Bank Governor Elvira Nabiullina's continued support for the CBDC, the banking sector has expressed significant doubts. Citizens have also voiced concerns about the digital ruble, leading the Central Bank to assure that nobody will be forced to use the CBDC. The future of the digital ruble was further complicated in late February when Nabiullina announced a delay.

Voylukov highlighted that most Russians are still wary of the CBDC, citing a lack of tangible advantages over existing payment methods and the reliance on QR codes, which require stable internet connections. He noted that while around 88% of Russian households have internet access, connectivity issues in rural areas could hinder the adoption of the digital ruble. Russia may look to China for solutions, as the central People’s Bank of China has launched offline digital yuan wallets to address similar connectivity issues.

Voylukov concluded that the digital ruble is likely to be of interest to those already accustomed to using QR codes and similar payment solutions. The success or failure of mass adoption will depend on the advantages offered by the Central Bank and commercial banks working with the digital ruble.