CBDC Slowdown: Russian Economist Expects Digital Ruble Delay

The rollout of Russia’s central bank digital currency (CBDC), the digital ruble, may be postponed until 2027, according to comments from a prominent Russian economist. The delay could signal broader challenges in the country’s efforts to modernize its financial infrastructure amid shifting geopolitical and economic conditions.

Speaking to Russian media, economist Vladislav Ginko noted that although the Central Bank of Russia initially targeted a phased rollout beginning in 2025, various technical, regulatory, and institutional hurdles could push the full-scale launch back by at least two years. Ginko pointed to the complexity of integrating the digital ruble into the existing banking system, as well as lingering concerns among both consumers and financial institutions over privacy, interoperability, and risk management.

The Central Bank has already conducted pilot programs in select regions and with limited use cases, such as peer-to-peer transfers and payments to government agencies. However, analysts suggest that these trials have revealed friction points that may take longer than expected to resolve.

The delay comes as central banks around the world grapple with how to implement digital currencies effectively. While countries like China have advanced quickly with their own CBDC efforts, others—including the U.S. and European Union—have taken a more cautious approach. Russia’s experience reflects a broader global trend: the ambition to digitize national currencies is often tempered by technological complexity and institutional inertia.

Despite the possible delay, Russian officials continue to promote the digital ruble as a long-term strategic tool, aiming to enhance payment efficiency, reduce dependence on Western financial systems, and support de-dollarization efforts. However, the path to full adoption remains uncertain.

If confirmed, the shift in timeline may alter expectations for how quickly Russia can achieve its stated digital finance goals, and how it positions itself in the evolving global CBDC race.