Russia: the schedule of phased introduction of the digital ruble from 2026 has been approved

The President of the Russian Federation has signed a law establishing a roadmap for the introduction of the digital ruble, a national digital currency created under the Central Bank's management. According to the approved document, the project will start from September 1, 2026 and will be implemented in three stages, gradually covering the entire banking and trade sector of the country.

At the first stage, starting from September 2026, all systemically important banks — the largest participants in the banking sector-will be required to provide their customers with the opportunity to open digital wallets. In addition, under this stage, the obligations to accept the digital ruble will be extended to trading companies with annual revenue of more than 120 million rubles, if they are serviced in these banks.

The second stage will start on September 1, 2027. It will affect banks with a universal license, as well as trade organizations whose annual turnover exceeds 30 million rubles. These participants will also have to provide their clients and partners with access to payments in digital rubles.

The final stage will come into force on September 1, 2028. It will cover the remaining banks and retail businesses, with the exception of small businesses with annual revenues of less than 5 million rubles. Such entities will not be required to accept digital currency.

The legislation also provides for the introduction of a single payment QR code, which will be mandatory for all credit institutions from September 1, 2026. The use of a QR code is expected to simplify digital transactions and increase compatibility between different payment platforms. The technical implementation will be carried out on the basis of the National Payment Card System (NSPK), which previously ensured the operation of Mir cards.

The signing of the law was the final stage in the formation of the legal framework for the large-scale launch of the digital currency. The law was approved by the State Duma in an expedited manner — the second and third readings were held on the same day.

The digital ruble is considered as a tool for increasing the transparency of financial flows, speeding up settlements and reducing costs in the economy. It will act as a supplement to cash and non-cash forms of money, while maintaining the status of legal tender. In the long run, the project can influence the transformation of the entire retail and corporate payment system, as well as contribute to the development of innovative infrastructure in the financial sector.