Russia to Formally Launch Digital Ruble on Sept. 1

The digital ruble is a central bank digital currency issued by the Bank of Russia. It will circulate alongside legal-tender rubles held as cash and bank deposits, with the aim of expanding payment options and improving transaction efficiency. The initiative will affect Russia’s payment system and financial infrastructure while reflecting broader global progress toward sovereign digital currencies.

The Bank of Russia governor confirmed that the digital ruble system is ready and scheduled for formal launch on Sept. 1. The first phase will require 12 systemically important banks to connect to the platform, with financial and credit institutions among the first to accept the currency. The digital ruble is intended to supplement existing forms of the legal-tender ruble, rather than replace cash or bank deposits.