Fintech & payments regulation in Belarus (2026)
Fintech and digital payments in Belarus: licensing regime.
Belarus has a clear, in-force licensing/registration regime for payments overseen by the National Bank (NBRB). Law No. 164-Z (2022) established a Registry of Payment Service Providers covering banks plus new non-bank participants (payment aggregators, payment couriers and other providers), each subject to NBRB capital, AML, governance and operational requirements before they may operate. E-money may be issued only by resident banks holding NBRB permission, and the NBRB also runs the national ERIP rail and the new KROK instant-QR payment service.
Legal framework
Law of the Republic of Belarus No. 164-Z of 19 April 2022 "On Payment Systems and Payment Services" (in force from August 2022), administered by the National Bank of the Republic of Belarus (NBRB), which maintains the Registry of Payment Service Providers; e-money issuance is governed by separate NBRB banking regulation.
Key points: digital payments & fintech in Belarus
Primary law in force
Law No. 164-Z of 19 April 2022 "On Payment Systems and Payment Services" entered into force in August 2022, setting the legal basis for payment systems and the provision of payment services in Belarus.
Regulator and registry
The National Bank of the Republic of Belarus forms and maintains the Registry of Payment Service Providers; providers (including payment aggregators and payment-instrument providers) may carry out payment activity only after being entered in the registry.
Licensing requirements
Requirements set by the NBRB include minimum share capital, financial and safe-operation standards, fit-and-proper tests for heads and beneficial owners, information security, AML compliance, internal control and payment-risk management, calibrated by the type and combination of payment services provided.
E-money issuance limited to banks
The NBRB has regulated electronic money since 2000; only resident banks that have obtained the appropriate NBRB permission may issue e-money, there is no separate stand-alone EMI/e-money-institution license outside the banking framework.
Instant-payment rails
The NBRB operates the national ERIP (single settlement and information space) rail and, by Board Resolution No. 13 of 16 January 2026, updated its instant-payment system rules to introduce the KROK service for 24/7 cashless instant QR payments without bank cards.
Crypto/fintech expansion
Presidential Decree No. 19 of 16 January 2026 created a framework for "crypto banks" (joint-stock companies combining digital-token and banking/payment activity) requiring High-Tech Park residency and inclusion in an NBRB register; open banking and BNPL have no dedicated standalone regime.
Timeline of decisions
- GuidanceNational Bank Confirms Digital Ruble (CBDC) Launch Target of H2 2026
Prime Minister Golovchenko and National Bank Chairman Kallaur publicly confirmed the digital ruble will enter full circulation in the second half of 2026, with businesses onboarded first and government agencies and citizens following in 2027; three immediate tasks were named, finalising the platform (Hyperledger Fabric), building domestic software, and codifying the legal framework for CBDC as non-cash transactions.
CryptoNews (quoting National Bank of Belarus and Prime Minister)
- DecisionCBDC Digital Ruble Pilot Launched with 12 Commercial Banks
The National Bank of Belarus launched a structured pilot of its digital ruble involving 12 commercial banks and approximately 600 employees, testing wallet creation, top-ups, peer-to-peer transfers, and automated payments on a permissioned Hyperledger Fabric ledger. The pilot marked the transition from research to live technical testing of Belarus's central bank digital currency.
CoinGeek (quoting National Bank Chairman Kallaur)
- Law · officialLaw 'On Payment Systems and Payment Services', First Comprehensive Payments Statute
Belarus enacted its first omnibus payments law, consolidating fragmented rules into a unified framework covering licensing of payment service providers and system operators, e-money issuance (reserved to licensed banks and non-bank credit institutions), AML/CFT obligations for all payment market participants, and a new 'payment application' category enabling bank-agnostic payment initiation. The law entered into force in August 2022.
BelTA (Belarusian State Telegraph Agency)
- Law · officialEdict No. 6: Mandatory KYC Identification Imposed on All E-Wallet Holders
Presidential Edict No. 6 ('On Urgent Measures to Combat Illegal Drug Trafficking') mandated full identity verification for every individual opening an electronic wallet, regardless of balance, eliminating anonymous e-money accounts and tightening AML controls across all electronic money issuers.
National Bank of the Republic of Belarus (nbrb.by)
- Decision · officialERIP (Single Settlement Information Space) National Payments Hub Established
The National Bank of Belarus stood up ERIP, a unified real-time payment infrastructure connecting banks, utilities, merchants, and government services into a single settlement network. ERIP became the foundational backbone for retail digital payments in Belarus, enabling bank-agnostic bill payment and later contactless and mobile-initiated transactions.
National Bank of the Republic of Belarus (nbrb.by)
- DecisionBELKART National Card Payment System Makes First Transaction
The BELKART national domestic card scheme, developed from 1994 under a National Bank initiative to give Belarus a sovereign card infrastructure, processed its first microprocessor card payment. BELKART became the state-backed alternative to international card networks and today accounts for the majority of non-cash card turnover in Belarus, underpinning the domestic payments stack that all licensed payment providers must interoperate with.
Wikipedia — Belkart
Sources
- nbrb.by/engl/payment/e-money
- eng.belta.by/economics/view/new-law-passed-to-encourage-development-of-payment-sys
- mondaq.com/compliance/1199220/new-law-on-payment-systems
- cis-legislation.com/document.fwx?rgn=139663
- stolin.brest-region.gov.by/en/news-en/view/belarus-has-approved-a-new-version-of-its-instant-pay
- cis-legislation.com/document.fwx?rgn=144500
- interfax.com/newsroom/top-stories/115665/
- coinnews.com/news/belarus-establishes-new-legal-framework-for-national-crypto-bank
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Next topicOrientation, not legal advice: verify against the primary sources linked above. Last verified 25 May 2026. Methodology & how to cite · State of Technology Regulation 2026