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National Bank announces introduction of electronic hryvnia in Ukraine

Source : 112 Ukraine

The National Bank of Ukraine also plans to increase its operational efficiency and start the digital transformation by 2025
22:50, 20 May 2021

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The National Bank of Ukraine (NBU) plans to start introducing electronic hryvnia. The corresponding item is contained in the new NBU Strategy until 2025. Deputy Chairman of the NBU Oleksii Shaban announced this during the presentation of the strategy.

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"The introduction of the electronic hryvnia is starting," he said.

According to him, the NBU will increase its operational efficiency and begin the digital transformation in the period until 2025.

In addition, the strategy includes a point of the paperless financial sector.

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It is worth noting that the National Bank started a research project for the possible introduction of e-hryvnia, the national currency based on blockchain technology, in 2016.

It was also noted at the conference that the Strategy will be implemented in three strategic areas of development: promoting economic recovery and development, digital finance as a driver for digitalization of the economy, institutional development and operational excellence of the National Bank.

Related: European Investment Bank names most attractive industries in Ukraine

As it was reported earlier, the National Bank of Ukraine has signed a memorandum with the international payment systems Visa and Mastercard. According to the Memorandum, the signatories will work on competition in the payment market of Ukraine.

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