Nabiullina announced the readiness of first-wave banks to launch the digital ruble

The Bank of Russia is on schedule for the introduction of the digital ruble, and first-wave banks are completing preparatory work. This was announced on March 5 at the annual meeting of credit institutions with the Central Bank by the head of the regulator, Elvira Nabiullina.

"We are on schedule, all the basic transfer functionality, payments, it is working and a multi-level protection of the digital ruble platform from cyber threats has been built. The first—wave banks on their side are completing preparatory work to provide the digital ruble service to all those who want to use it," Nabiullina said.

According to her, in 2025, the Central Bank introduced payment in digital rubles using a universal QR code and successfully tested the new currency in the budget process on a number of projects. The regulator has received many constructive proposals from banks to develop the capabilities of the digital ruble.

It turns out badly: banks can lose up to 20% of funds on deposits due to the digital ruble

How will Russians perceive the new form of money and is there a way to minimize the risks associated with it?

On March 3, Russian President Vladimir Putin held a meeting in the Kremlin with the head of the federal Treasury, Roman Artyukhin. One of the topics of discussion was the use of the digital ruble. The head of the Treasury noted that there is a lot of work to be done to clarify. Currently, together with the Central Bank and the Ministry of Finance of Russia, priority areas are being determined for transferring expenses to the digital ruble platform.

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