The launch of the digital ruble by the Bank of Russia is reportedly being postponed to mid-2026 due to banks encountering challenges in transitioning from foreign software amid ongoing sanctions.
The central bank of Russia is weighing a delay for the full introduction of its central bank digital currency, the digital ruble, until mid-2026. This consideration comes as banks expected to facilitate its use struggle with technical migration issues, as reported by unnamed banking officials.
Initially, the Bank of Russia aimed for a mass rollout of the CBDC by July of this year but has since opted to extend that timeline. The head of the central bank indicated in February that the launch would be postponed without providing specific details or reasons for the delay.
According to sources, one contributing factor to this delay is the challenges banks are facing in switching from foreign database solutions, with some institutions struggling to migrate from Oracle, which is commonly used for data management.
Additionally, one banking executive raised concerns over technical security and the digital ruble’s performance during power outages. Nevertheless, officials have stated that the pilot program is progressing as planned.
During a Russian economic forum earlier this month, a central bank representative reported that the platform’s functionality is progressing well, with no significant issues identified thus far. Furthermore, they noted that the number of participants in the pilot program has increased, with individual users rising from 500 to 2,000 and businesses from 30 to 50.