More than 20 Russian banks participate in digital ruble pilot project

Business & Economy December 01, 19:36

Bank of Russia Deputy Governor Zulfia Kakhrumanova recalled that earlier this year, the regulator, together with the Finance Ministry and the Federal Treasury, conducted test launches of smart contracts based on the digital ruble in Chuvashia, Tatarstan, and Rostov-on-Don

MOSCOW, December 1. /TASS/. The pilot project for the digital ruble, which now includes more than 20 credit institutions, is expanding, and access to it is gradually becoming widespread, Bank of Russia Deputy Governor Zulfia Kakhrumanova said.

"More than 20 banks are participating in the pilot, and over 90,000 transactions have been conducted. Around 2,500 users are involved. We are gradually and systematically expanding the number of pilot participants and broadening the range of services," Kakhrumanova said.

She recalled that earlier this year, the regulator, together with the Finance Ministry and the Federal Treasury, conducted test launches of smart contracts based on the digital ruble in Chuvashia, Tatarstan, and Rostov-on-Don.

The digital ruble is the third form of Russia’s national currency, alongside cash and non-cash money. Major banks will be required to provide their clients with the ability to conduct operations in the digital national currency starting September 1, 2026.

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