According to Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, the implementation of the Russian digital ruble for generalized international settlements is anticipated to occur in 2026.
According to Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, the implementation of the Russian digital ruble for generalized international settlements is anticipated to occur in 2026. Aksakov outlined that 2025 will focus on expanding the current pilot phase to facilitate domestic transactions within Russia, followed by rigorous testing for both domestic and international applications.
Digital Ruble to Facilitate Cross-Border Transactions by 2026
Russian authorities are accelerating the development of the digital ruble, the nation’s central bank digital currency (CBDC), to ensure it becomes operational soon. Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, discussed the progress and projected timeline for the digital ruble’s adoption, particularly concerning cross-border payments.
In an interview with TASS, Aksakov stated:
“I believe it will take a couple of years. Initially, we need to establish mutual settlements within the country. The experiment will now be expanded.”
Aksakov expressed confidence that 2025 will be a pivotal year for preparing and implementing the digital ruble for domestic payments. He further indicated that 2026 would witness the gradual adoption of the digital ruble across the country, ensuring a careful rollout to mitigate risks associated with introducing a new currency to the public.
These statements align with President Putin’s recent endorsement of digital assets, emphasizing the need to create favorable conditions for their circulation within Russia and internationally. President Putin also advocated for the extensive implementation of the digital ruble in the Russian economy.
Since 2022, efforts have been underway to regulate cryptocurrency mining and other digital assets. Although the State Duma has faced challenges in passing the necessary legislation, it is expected to be approved in August. This approval is anticipated to pave the way for the regularization of digital payments and cryptocurrency mining activities within Russia.
