Russia has begun the large-scale rollout of the digital ruble, a central bank digital currency (state-issued digital money), for payments between individuals and businesses, government transactions, purchases and refunds. The digital ruble is the third form of Russia's national currency alongside cash and conventional bank-account money. Consumer use is voluntary, with accounts opened through participating banks' mobile applications. Unlike cryptocurrency, it is issued exclusively by the Bank of Russia, cannot be mined, is centralized, is legal tender and maintains a one-to-one value with the conventional ruble. Funds are held on the Bank of Russia's platform rather than at commercial banks, although participating banks provide access. Transfers between individuals and consumer payments are free, but digital rubles do not earn interest, support deposits or loans, or provide the rewards commonly offered by banks and card companies. Individuals can add up to 300,000 rubles a month from conventional accounts or electronic-money balances, while no equivalent limit applies to funds received from other people. Businesses are promised low payment costs, faster settlement and waived operating fees through the end of 2026. Mandatory acceptance will begin Sept. 1, 2026, for covered businesses with annual revenue above 120 million rubles, expand on Sept. 1, 2027, to those above 30 million rubles, and broaden a year later to those above 20 million rubles. Businesses below 5 million rubles in annual revenue and outlets without internet access are exempt. The Bank of Russia says the centralized transaction record can improve oversight of funds and make budget diversion or gray schemes more difficult. Programmable transactions using smart contracts (self-executing blockchain code) could also link payments to conditions such as delivery confirmation. Russia is exploring cross-border use as restrictions affect traditional international payment channels, but international digital-ruble payments remain under development and are unavailable to ordinary users in the current rollout. Near-term adoption will depend on whether free transactions, broader merchant acceptance and programmable functions create a practical reason for Russians to use the system.