tl;dr
Belarus plans to fully launch its central bank digital currency, the digital ruble, by the latter half of 2026. The initiative prioritizes security and traceability, using a three-phase roadmap: platform design, software development, and regulatory framework establishment. The rollout will start wit...
Belarus plans to fully circulate its central bank digital currency (CBDC), the digital ruble, by late 2026. The initiative emphasizes security and traceability, using a phased rollout starting with businesses in 2026, followed by government entities and the public in 2027. This “coloring” of money enables the state to monitor digital asset movements throughout the financial system.
The digital ruble platform is built on the open-source Hyperledger Fabric blockchain, aligning Belarus with other central banks like Russia and Brazil that have adopted similar technology for their CBDC projects. The development roadmap includes three key phases: platform architecture design, proprietary software development, and establishing a regulatory framework.
This CBDC aims to facilitate cross-border payments, particularly in cooperation with Russia, and to create independent financial channels to mitigate the effects of international sanctions. The digital ruble will complement existing cash and electronic forms of the Belarusian ruble, adding an additional layer of state-issued digital currency.
While Belarus advances its CBDC framework, Russia faces indefinite delays in launching its digital ruble due to technical and operational challenges encountered during its pilot phase, which involved 12 banks focusing on wallet creation, transfers, and automated payments.
Belarus has demonstrated a progressive stance on cryptocurrencies since 2018, adopting comprehensive crypto regulations that simplify accounting standards and promote digital asset transactions for businesses. This regulatory foundation positions Belarus as a leading innovator in digital assets within the region.