Ukrainian Tascombank is rolling out a test for the country’s private electronic hryvnia on Stellar network in partnership with Bitt, a fintech firm.
The project is conducted under the oversight of the National Bank of Ukraine, approved by the country’s Ministry of Digital Transformation.
Stellar CEO Denelle Dixon reveals that the pilot assignment has started, including a programmable payroll designed for public servants at Diia IT solutions enterprise that MDT backs.
The Deputy Minister, Oleksandr Bornyakov, notes that the pilot phase would form a technological framework for the electronic currency release. He adds that it is an important step in payment innovation and financial network.
The licensed electronic hryvnia would be the privately-issued electronic money underpinned by the blockchain technology operating within the country’s e-money regulation.