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Russia expands access to digital ruble wallets via connected banks
The Bank of Russia says individuals can open wallets through participating banks starting Sept. 1, with consumer use remaining voluntary.
Russia has expanded access to its central bank digital currency, the digital ruble, moving the service beyond restricted pilots as connected banks and retailers activate payment infrastructure from Sept. 1, according to CryptoSlate.
The Bank of Russia said individuals can open a digital-ruble wallet through a participating bank's mobile app, where the wallet runs on the central bank platform and commercial banks provide access. Consumers must confirm their bank is connected, and enrollment is voluntary with no deadline, while banks cannot automatically open wallets for customers.
All 12 of Russia's systemically significant banks are ready to offer digital-ruble accounts and transactions from Sept. 1, representing more than 80% of the country's payments market, the regulator said. The rollout also includes nine payments significant banks, though three institutions designated this year may need until the end of 2026 to complete connectivity.
For retailers, the initial mandate is narrower than a standalone revenue threshold, applying to consumer-facing sellers with prior-year revenue above ₽120 million that also have an agreement to accept electronic payment instruments with a payment-services-significant bank. The guidance also includes a monthly cap of up to ₽300,000 for individual wallet top-ups from bank accounts or electronic money, while top-ups for businesses are uncapped.