Russia now has 270,000 digital ruble accounts, less than two months after the national launch of its central bank digital currency (CBNC). Elvira Nabioullina revealed this figure on October 23, specifying that demand exceeded expectations. Moscow is already preparing new services, including recurring payments from November and offline transactions in 2027. The number of truly active users, however, remains unknown.
In brief
- Russia reaches 270,000 digital ruble accounts since September 1.
- Around 15,000 accounts concern companies and individual entrepreneurs.
- Moscow prepares recurring payments and offline transactions.
Digital ruble exceeds Russia’s expectations
Start-up is quick. On September 11, the Bank of Russia already announced 87,000 accounts opened and more than 50,000 transactions. Just ten days after the national launch, the first figures exceeded the regulator’s forecasts.
Since then, openings have almost tripled. The central bank had already presented the first results of the national rollout of the digital ruble in mid-September. The project, tested since August 2023, is now accessible to individuals through participating banking applications.
Elvira Nabioullina recognizes that the interest was significantly higher than the institution’s initial expectations. Of the 270,000 registered accounts, around 15,000 concern legal entities and individual entrepreneurs. Small and medium-sized businesses are among the categories showing the most interest.
The progress is visible. However, it does not yet make it possible to measure the actual use of the currency. The regulator did not provide new number of transactions, volume transferred or active accounts during this announcement.
Moscow prepares offline payments for 2027
The digital ruble will gradually receive new features. From the end of November, the Bank of Russia plans to launch a recurring payments service. Users could thus authorize certain periodic payments, particularly for subscriptions.
Next year, Moscow also wants to test offline payments. This functionality would allow certain operations to be carried out without a permanent connection to the Internet. The precise technical details still need to be clarified.
Development also affects salaries. At the beginning of October, employees of the Russian Ministry of Finance had already received their remuneration in digital rubles. This possibility remains voluntary for workers. Authorities are also considering facilitating cash withdrawals directly from digital ruble accounts to ATMs.
For individuals, transfers and payments are free. They can fund their digital account up to 300,000 rubles per month from their traditional bank accounts.
Companies benefit from a free period until the end of 2026. Fees must then come into force in 2027. The system seeks in particular to reduce the cost of payments and to simplify transfers between individuals, businesses and administrations.
The digital ruble still has to convince the Russians
The 270,000 accounts constitute a first result. For a population exceeding 140 million inhabitants, the deployment nevertheless remains in its early stages. Russian digital currency works differently than Bitcoin or private stablecoins.
It represents a third form of the ruble, alongside cash and money kept in bank accounts. It is issued by the Bank of Russia, which directly controls its platform. Each user accesses their wallet through a participating bank. Opening an account remains optional for individuals.
The banks and merchants concerned must, however, gradually integrate the infrastructure. The largest institutions started on September 1, 2026. Additional institutions will join the system in 2027 and 2028.
This obligation also explains why the availability of the service should not be confused with spontaneous adoption by the entire population. Commercial banks are not unanimously convinced. Sberbank has already expressed reservations about public demand and possible consequences for bank deposits.
At the same time, Moscow continues its transformation of the financial market. In particular, Russia’s largest bank plans to accept Bitcoin, Ethereum and USDT as loan collateral. The digital ruble, however, belongs to a different category than these crypto assets. The Bank of Russia will now have to transform account openings into regular payments. The next transaction figures will allow us to see if users are really following.
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