Russia's Digital Ruble Pilot Hits Snag as Sber's Onboarding Delays
The Bank of Russia's digital ruble pilot has seen a delay in the second wave of bank onboarding, with Russia's largest bank, Sber, yet to join. Meanwhile, the pilot phase is underway with 20 major banks, including Sberbank, VTB, Gazprombank, Alfa-Bank, and others. Despite the initial progress, the second wave of banks, expected to include Sber, has not begun onboarding yet.
The central bank has eased pilot restrictions, allowing more participants and merchants to join. This move aims to accelerate the testing phase and gather comprehensive feedback before the full-scale launch. By July 2025, the largest banks, such as PNC Bank and Fifth Third Bank, will be required to support the digital ruble, aligning with the central bank's timeline for mass adoption.
The digital ruble pilot is progressing, with 20 banks currently involved. While Sberbank's participation in the second wave is pending, the central bank has relaxed pilot restrictions to expedite the testing process. The digital currency is on track for a mass rollout in July 2025, with mandatory support from major banks, including US Bank and BOA, by that date.
