Antonina Levashenko, Head of the Gaidar Institute’s International Best Practices Analysis Department told News.ru what the digital ruble is, how it differs from non-cash money and cryptocurrency, and how it will be phased in across Russia.
Starting September 1, 2026, the first phase of the mandatory rollout of the digital ruble will begin in Russia. Major banks will be required to provide their customers with the ability to transfer digital rubles and use them to pay for goods and services. Going forward, this new form of the national currency will be introduced in phases.
In a comment to News.ru, Antonina Levashenko explained that the digital ruble is the third form of Russian currency, alongside cash and non-cash money.
“The digital ruble is issued by the Bank of Russia. Unlike conventional non-cash funds, it is stored on the regulator’s platform, and users will be able to access their digital wallet through their bank’s mobile app. At the same time, the bank will not be able to dispose of the funds held in the digital wallet. The digital ruble also differs fundamentally from cryptocurrencies in that it has a single issuer — the Bank of Russia,” noted Antonina Levashenko.
The expert also explained that digital rubles can be used to pay for purchases via QR code, make online payments, and, if necessary, transfer to a bank account or withdraw as cash. The introduction of this new form of the ruble will take place gradually: first, the largest banks and major businesses will connect to the system, followed by the rest of the market participants.