Bank of Russia Announces Launch of Digital Ruble

The Bank of Russia has announced the start of using the digital ruble. From September 1, the largest banks and retail companies will open infrastructure for operations with the new form of the national currency.

Citizens will be able to open an account on the Central Bank's platform at their discretion through the applications of connected banks.

An individual or company will have only one such account. An individual entrepreneur will have two: one as a natural person and the second for conducting business.

Citizens will be able to top up their digital ruble account from their bank accounts for an amount of up to 300,000 rubles per month. For businesses, no limit is provided.

Through the new currency form, transfers, payment for purchases, refunds, as well as budget payments are available. Citizens and companies will be able to manage funds in the digital wallet without restrictions.

For citizens, payments and transfers in digital rubles are free. For businesses, commissions will not be charged until the end of this year, but starting in 2027, tariffs will apply to individual entrepreneurs and companies.

The Bank of Russia also allowed banks that are not required by law to open infrastructure this autumn but wish to launch digital ruble services earlier to connect to the platform.

Recall that in June, the Plenum of the Supreme Court of the Russian Federation included digital rubles, digital rights, and digital currency in the subject of theft in theft cases.