The State Duma has adopted in the first reading a draft law on the phased introduction of the digital ruble into circulation and the implementation of a universal payment QR code into Russia’s payment system.
The bill obliges credit institutions to provide their clients with access to services on the digital ruble platform. To ensure a smooth integration of banks into the platform, the law envisions a phased rollout of this requirement for different categories of credit institutions. Starting July 2025, systemically important banks will be subject to this obligation, followed by banks with a universal license a year later. As of July 1, 2027, all credit institutions will be required to offer services on the digital ruble platform.
Merchants will also adopt the digital ruble in stages: first, companies with an annual turnover exceeding RUB 30 million ($381,600), then those with a turnover of RUB 20 million ($254,400) or more, and finally all others.
The draft law introduces the concept of a universal payment code. It will be used when individuals transfer digital rubles to legal entities or individual entrepreneurs for goods and services. Starting in 2026, money transfer operators will be required to provide clients with payment details or a link to them in the form of a universal QR code. Buyers will only need to scan the code via their bank’s mobile app to instantly transfer the required amount in digital rubles, bypassing manual entry of payment details. Experts note that this should speed up transactions and reduce the risk of errors.