MOSCOW, September 1. /TASS/. The mass rollout of the digital ruble began on Tuesday in Russia, with major banks and retailers opening up their infrastructure for transactions with digital rubles. Individuals can also choose to use the new form of the national currency.

The digital ruble is the third form of Russia's national currency, alongside cash and non-cash money. It is an entirely new technology developed by the Bank of Russia and represents the next stage in the evolution of cashless payments and transfers.

The digital ruble will be introduced in stages: initially, the country's largest banks will offer their clients the ability to conduct transactions using the digital national currency, while all credit institutions will join the system by September 2028.

As the Bank of Russia previously reported, all payments and transfers in digital rubles are free of charge for individuals. Businesses will have a grace period through the end of this year, during which no fees will be charged for payments or transfers.

Starting in 2027, fees will be introduced for individual entrepreneurs and companies, with rates set to be among the lowest on the payments market, the Bank of Russia said.

How to open and fund an account

To use the digital ruble, users need to open an account on the Bank of Russia's platform. This can be done through the Digital Ruble section, which will appear in the mobile apps of banks connected to the platform. Individuals and companies will each be able to have only one such account, while individual entrepreneurs will be able to have two: one as an individual and another for business purposes, the Bank of Russia said.

Individuals will be able to fund their digital ruble accounts from their bank accounts with up to 300,000 rubles ($3,476) per month. There is no funding limit for businesses. Both individuals and companies will be able to use the entire balance in their digital wallets without restrictions.