The digital ruble, initially set to launch this year, is now postponed until mid-2026 due to banks facing software migration issues.
Reasons for CBDC Launch Delay
The Bank of Russia has decided to delay the launch of its central bank digital currency (CBDC) until mid-2026. The decision comes amid difficulties banks face in transitioning to new software solutions due to international sanctions.
Technical Challenges and Oracle Migration
Bank representatives have stated that a major issue lies in the migration from existing foreign database solutions like Oracle. Many institutions have encountered significant hurdles in adopting new systems, leading to the digital ruble's launch delay.
Continued Pilot Program
Despite the delay in full launch, the pilot project continues. According to a central bank spokesperson, the platform’s functionality generally meets expectations, and the number of participants, including individual users and businesses, is increasing.
Thus, the digital ruble's launch is postponed for several years, but work on the project continues. The central bank is closely monitoring the progress of the pilot program and addressing technical issues.
