The Bank of Russia has delayed the full-scale rollout of its central bank digital currency (CBDC), the digital ruble, which was initially planned for this summer. Central Bank Governor Elvira Nabiullina explained that the postponement would allow for additional testing and discussions with banks to refine the economic model. She was quoted by Tass as saying:

We will shift to mass introduction of the digital ruble a bit later than initially planned, specifically – after all pilot phases are worked out and all consultations with banks on the economic model that is most beneficial for their clients are completed.

“We will be able to give the new date of mass deployment later,” she noted. The initial plan was to introduce the digital ruble after July 1, 2025, but a new timeline has yet to be announced.

As part of the ongoing pilot program, approximately 1,700 citizens and 30 businesses are currently using the digital ruble, with participation from 15 banks. Speaking at an annual meeting of the Association of Banks of Russia, Nabiullina described the project as successful while acknowledging concerns from stakeholders regarding necessary improvements. She detailed:

The pilot is successful. It is attended by a select number of clients, 15 banks. 1,700 citizens and around 30 companies currently participating.

Despite the delay, interest in the digital ruble remains strong, particularly regarding its use in smart contracts, which have drawn attention from financial institutions and government entities, the central bank insisted. Nabiullina emphasized the importance of ensuring confidence in the CBDC before its broader release.

“We handle them with great care because our task is to ensure that the digital ruble is popular so that it gains the trust of citizens and businesses,” she stressed, adding:

Now we see interest in smart contracts from banks, businesses, and the government.

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