Ukraine’s Deputy Prime Minister and the head of the country’s Ministry of Digital Transformation is exploring a possible early use case for the nation’s planned central bank digital currency.
The minister revealed considerations within the ministry to test out the CBDC by using the electronic currency in staff salary payments:
The initial roll-out of the e-hryvnia is to focus on a small, controlled use case rather than being deployed for social payments. According to the minister, there is the need to test the CBDC to prevent inappropriate use, therefore the minister’s call for staff salary payments as a viable pilot scheme for the national digital currency.
Ukraine’s central bank received authorization to issue a digital currency following the passage of a new payment services law by the country’s legislature. The National Bank of Ukraine has been working on creating and issuing a digital currency over the last few years. The Ministry of Digital Transformation also has some significant involvement in the CBDC space having partnered with the Stellar Development Foundation to develop a joint strategy for CBDCs and digital assets in general.
