Ukraine is exploring potential use cases for its CBDC, including retail payments, cross-border transactions, and facilitating crypto trades.
On Nov. 28, the National Bank of Ukraine (NBU) released a statement exploring the idea of issuing its own central bank digital currency (CBDC). Ukraine’s CBDC would be called e-hryvnia, named after its national currency.
Central bank officials claim that e-hryvnia could be “the next step in the evolution” of Ukraine’s payment infrastructure. The CBDC could help increase transparency and boost confidence in the national currency, Deputy Governor of the NBU Oleksii Shaban said.
The bank is exploring several use cases for the CBDC, which will reflect in its final design and features. For one, e-hryvnia could play a role in retail payments for social benefits. For instance, the government could issue benefits in e-hryvnia that could only be spent on certain classes of items. These…
