Russia is about to flip the switch on one of the most ambitious CBDC rollouts in the world. Bank of Russia Governor Elvira Nabiullina confirmed that the country’s 12 systemically important banks are fully prepared to begin accepting the digital ruble on September 1, 2026, alongside retailers generating annual revenues above 120 million rubles, roughly $1.5 million.
How the rollout actually works
The September 1 deadline marks the first phase of a three-stage implementation plan. Russia’s dozen largest banks, the ones deemed systemically important by the central bank, will enable clients to open digital ruble wallets for transfers and payments. On the merchant side, any retailer clearing more than 120 million rubles annually will be legally required to accept digital ruble payments.
Phase two arrives in September 2027. That’s when banks holding universal licenses and mid-sized retailers with revenues exceeding 30 million rubles will be pulled into the system. Phase three, targeting full national coverage, is slated for September 2028.
The original target was mid-2025, but the Bank of Russia pushed it back due to preparatory requirements.
