Last updated on March 15th, 2025 at 08:32 am
The rollout of the digital ruble is facing significant challenges, as approximately 30% of Russian banks reportedly remain unprepared due to outdated infrastructure and resistance to the country’s Central Bank Digital Currency (CBDC) initiative, the Digital Ruble.
A recent survey conducted by tech firms Flant and Diasoft, as reported by Vedomosti, revealed that many local financial institutions lack the necessary systems to integrate the digital ruble into their operations. Only 20% of banks have infrastructure ready for the digital ruble, while around 50% admitted to being only partially prepared, according to the survey of over 150 IT directors and banking professionals.
Russian banks are reportedly reluctant to serve as “agents” for the central bank, citing concerns about losing control over clients’ finances and facing increased transparency requirements. Local experts suggest banks recognize that the digital ruble would force them to relinquish some control and increase reporting to the Bank of Russia—developments they view as contrary to their interests.
Additionally, 14% of respondents expressed concerns about information security risks stemming from strict data protection requirements associated with the digital ruble implementation.
Notably, the Bank of Russia recently announced that it has decided to postpone the mass rollout of the digital ruble, stating that a new launch date will be announced later. The apex bank stressed the importance of ensuring the system benefits both banks and their clients before proceeding.
Meanwhile, this situation reflects a broader global trend. Nearly a third of central banks worldwide have delayed their CBDC initiatives amid regulatory uncertainties and shifting economic priorities. According to a February 11 report by the Official Monetary and Financial Institutions Forum (OMFIF) and security tech firm Giesecke+Devrient Currency Technology, approximately 31% of the 34 central banks surveyed have put implementation on hold. The study attributed these delays to governance concerns and pressing economic challenges, noting that legislative progress often depends more on political will than technical readiness or policy stance.
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