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The Eastern European country of Belarus is reportedly set to roll out a central bank digital currency (CBDC) by next year.
Citing a statement by the National Bank’s chairman of the board, Roman Golovchenko, the state-run news agency Belta reports that the digital form of the Belarusian ruble will be in full circulation by the second half of 2026.
Golovchenko says that by that time, business entities will be able to use CBDC – the digital form of the nation’s official currency that is issued and backed by the central bank. The plan is to make the digital rubble available to both state bodies and individuals by 2027.
He says the central bank is tasked to identify the requirements for adopting the digital ruble, create the needed software and develop a regulatory framework.
“The digital ruble is in the sphere of our priorities. We are actively working on its creation…We are facing the issue of the safety of funds. It will be very important to be able to track how digital money passes through the entire chain.”
Golovchenko says that digital currency holds promising solutions for cross-border settlements and Belarus is already working closely with Russia, which is also in the process of creating its own CBDC.
“We are already working on a joint action plan for the use of these tools in mutual settlements.”
