Russia set to roll out CBDC, universal QR code with new legislation

Russia is moving forward with its digital ruble plans, with new laws requiring banks and retailers to support the currency and a universal QR code payment system. Banks will be required to offer digital ruble transfers to customers, and the National Payment Card System (NSPK) will have to support payments via the universal QR code. The rollout of the digital ruble will be gradual, starting with major banks and large retailers in September 2026, followed by smaller banks and businesses in subsequent years, with full implementation expected by September 2028. Retailers with annual revenue over 120 million rubles must support digital rubles by September 1, 2026, with lower revenue thresholds phased in later. The new laws also mandate the use of a universal QR code for payments, prohibiting banks and retailers from charging fees for its use, but does not apply to cross-border transactions.