Digital Belarusian ruble: The National Bank outlined the timeframe for the transition to commercial operation
10:30, 12 March
photo: BELTA
The National Bank of Belarus plans to begin trial operation of the digital Belarusian ruble on July 1, 2026. First Deputy Chairman of the Board of the National Bank, Alexander Egorov, announced this to journalists, according to a BELTA correspondent. First Deputy Chairman of the Board of the National Bank, Alexander Egorov, announced this to journalists, according to a BELTA correspondent.
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According to Alexander Egorov, the software is currently being finalized. Specialists will begin preparations for the launch on June 1, and the system will enter trial mode on July 1.
"This will allow us to test specific cases: how it will work for banks in terms of remote access channels to digital accounts, and for the National Bank and the development of blockchain system algorithms," explained the First Deputy Chairman of the National Bank's Board.
Once the decree is adopted, a specific date will be set for all legislation to be brought into compliance with the new law. From that moment on, the system will begin operating in full industrial mode.
The developers have placed particular emphasis on the security of the new payment system. A multi-level protection system for the digital ruble has been provided. Commercial banks will have session-based anti-fraud systems in place that can detect the risk of fraudulent activity based on user behavior and device characteristics.
"A number of other anti-fraud systems will be implemented by the National Bank. They will identify suspicious transactions and temporarily block them until the cause is determined and verified by the individual or legal entity," added Alexander Egorov.
An important advantage of the digital ruble will be the additional protection of funds. Unlike regular bank accounts, digital ruble funds will be stored in accounts at the National Bank. This eliminates the risk of funds being frozen or temporarily blocked in the event of problems at a commercial bank.
"In the event of a commercial bank's problems or bankruptcy, citizens' funds will be fully refunded. In accordance with the law, a corresponding fund is being established within the deposit guarantee agency. However, in an emergency, citizens will not be able to access their funds immediately; there is a refund procedure. If the digital Belarusian ruble is used, the funds are stored in an account at the National Bank. There will be no risk of freezing or temporary blocking," emphasized Alexander Egorov.
As previously reported, the draft law "On Amending Laws Regarding the Digital Belarusian Ruble" was discussed at a meeting of the Standing Committee of the House of Representatives on Budget and Finance. The document will soon be considered by deputies in its first reading.
