The entry cost for small Russian banks to join the Bank of Russia's digital ruble platform is reportedly too high for them, exceeding their annual tech budgets by several times. Estimates suggest that upgrading their systems to integrate the digital ruble would cost between ₽120 million to over ₽200 million rubles ($1.3 million to $2.2 million). The Bank of Russia plans to roll out digital ruble services by 2027, starting with systemically important institutions in 2025. Russia's banking giant, Sberbank, aims to begin operations with the digital ruble for its customers in early 2025. Pilot testing for the digital ruble has been ongoing, with an expansion to include more participants in September. The Bank of Russia has reassured that the digital ruble will complement existing cash and non-cash rubles, rather than replace them.



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