Translation. Region: Russian Federation –
Source: Mainfin Bank –
An important disclaimer is at the bottom of this article.
How will banks make money on the digital ruble?
Smart contracts are algorithms that execute preset operations with the digital ruble, such as transferring funds step by step in real estate transactions. Transactions are automated, and administration and control costs are reduced. The Central Bank of the Russian Federation plans to allow banks to profit from the digital ruble—commercial institutions will be granted the right to create smart contracts and publish them.
"There's been increased interest from banks in the digital ruble—major companies are already proposing their ideas, and smart contracts will be an interesting case for them," the Central Bank stated.
The regulator promises to publish the concept in early 2026. The development is being conducted in dialogue with banks, and their interests will be taken into account. Smart contracts will be implemented similarly to app stores: those interested in using the required algorithms will begin paying a fee to the developers.
When will the implementation of the digital ruble in Russia be completed?
The large-scale implementation of digital currency in Russia has been repeatedly postponed; the project is currently still in the testing phase with individuals and businesses. The plan is to introduce the electronic ruble gradually:
By September of next year, banks and large companies with annual revenues of ₽120 million or more will be able to access the digital currency; by September 2027, organizations with a turnover of ₽30 million or more will be able to do so; by September 2028, all organizations will accept the digital currency.
Prominent figures are being recruited to test the electronic payment method. For example, Central Bank employees, including Elvira Nabiullina, are expected to be test subjects; her team will be paid in digital rubles. The new payment method will be most useful in the public sector, where maximum transparency in handling budget funds is essential.
09:30 10/21/2025
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