The Bank of Russia announced the launch of the digital ruble. Starting September 1, major banks and retail companies will open infrastructure for transactions with this new form of national currency.
Citizens will have the option to open an account on the central bank’s platform through connected bank applications.
Individuals or companies will have only one such account. Individual entrepreneurs will have two: one as a private individual and another for business purposes.
Citizens can top up their digital ruble accounts from their bank accounts up to 300,000 rubles per month. There is no limit for businesses.
The new currency form allows for transfers, payments for purchases, refunds, and budget payments. Citizens and companies can manage funds in their digital wallets without restrictions.
For citizens, payments and transfers in digital rubles are free. Businesses will not incur fees until the end of the current year, but starting in 2027, tariffs will apply to individual entrepreneurs and companies.
The Bank of Russia has also allowed banks not required by law to open infrastructure this fall to connect to the platform if they wish to launch digital ruble services earlier.
In June, the Plenum of the Supreme Court of Russia included digital rubles, digital rights, and digital currency in the subject of theft in cases of digital theft.
