Russians largely distrust the central bank’s planned digital ruble, with nearly half viewing it primarily as a tool for increased state financial control rather than an innovation for security or convenience.
A recent survey indicates 47% of Russians believe the digital ruble aims to give the government greater control over personal finances. Only 36% of those polled expressed confidence in the security of the central bank digital currency (CBDC) system.
This widespread skepticism persists despite official assurances regarding the new currency’s benefits. Among potential users, 41% fear the digital ruble will limit individual financial freedom. Just 7% think it could enhance economic independence.
Four out of 10 participants stated they would not willingly share information about their transactions with the Bank of Russia, the issuer of the CBDC. Alexander Novikov, research director at Mar Consult, noted this reflects a lack of public trust in government initiatives.
Specific concerns include technical failures, cited by 43% of respondents. Another 39% worried about cyberattacks and data leaks, while 38% feared potential state interference in personal financial matters.
Respondents did acknowledge some potential advantages, such as faster payments and transfers (40%), increased transparency (26%), and savings on bank fees (25%). However, these benefits were secondary to concerns about privacy and control.
Overall, 65% of Russians are aware of the digital ruble project, though 31% reported knowing almost nothing about it. Only 26% believe the new currency would improve transaction security.
The survey, which consulted 1,200 participants in October, also explored general cryptocurrency use. Just 4% of Russians regularly use cryptocurrencies, and 19% have used them occasionally.
Even among high-income citizens earning over $2,500 USD per month, only 8% use cryptocurrencies. The vast majority in this group, 59%, have not tried digital assets.
Novikov concluded that digital currency adoption in Russia remains a niche phenomenon, largely due to a lack of confidence and perceived practical need. He urged financial regulators to boost public trust through education campaigns highlighting security measures and benefits.
The Bank of Russia has been testing the digital ruble for over two years with a limited group. Its public launch, initially set for 2025, was delayed by a year. Following a push from President Vladimir Putin to accelerate adoption, a gradual rollout is now planned to begin on September 1, 2026.