Russia to launch central bank coin by 2026

Russia’s State Duma has approved a bill to launch the digital ruble, a central bank digital currency (CBDC), on September 1, 2026.

Large businesses must accept digital ruble payments by that date, while mid-sized and small firms have until 2027 and 2028, respectively.

A universal QR code payment system will be implemented and managed by the National Payment Card System.

Exemptions apply to merchants with less than 5 million rubles in annual sales or no internet access.

The rollout, originally planned for July 2025, was delayed due to pushback from merchants and institutions like Sberbank.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Russia joins global CBDC race amid mixed international results

Russia’s digital ruble implementation timeline aligns with a broader global trend, with CBDCs gaining momentum worldwide despite mixed adoption results.

As of 2025, 137 countries representing 98% of global GDP are exploring CBDCs, with 72 nations in advanced stages of development, piloting, or launch 1.

The mandatory adoption approach for Russian businesses by 2026-2028 reflects strategies seen in other countries seeking to accelerate CBDC uptake after facing initial resistance from consumers and financial institutions 2.

While Russia focuses on phased merchant mandates, successful CBDC implementations elsewhere have emphasized interoperability and complementing existing payment systems rather than replacing them outright 2.

Global experience suggests Russia’s timeline may be ambitious, as only three countries (The Bahamas, Jamaica, and Nigeria) have fully launched CBDCs despite years of development efforts by dozens of nations 1.

2️⃣ Public skepticism toward CBDCs transcends national boundaries

Russia’s public reluctance toward its digital ruble (51% unwilling to adopt) reflects a common challenge for CBDCs globally, not a Russia-specific phenomenon.

The Bank of Israel’s survey on their potential digital shekel similarly found that cybersecurity concerns were the primary reservation among respondents, even though overall interest was higher than in Russia 3.