Stellar CEO Denelle Dixon announced that Stellar is working with Ukraine to launch a central bank digital currency (CBDC) using the hryvnia, with ongoing efforts despite delays from the conflict. The initiative involves partnerships with Bitt and Tascombank, and Ukraine has simultaneously seen significant growth in crypto adoption for donations and military purchases.
Stellar CEO Denelle Dixon confirmed in a CoinDesk interview that Stellar is spearheading Ukraine's CBDC initiative in partnership with Bitt and Tascombank to create a digital hryvnia. While the project remains active, Dixon acknowledged delays due to the ongoing Russia-Ukraine conflict affecting office access. The digital hryvnia could potentially launch before year-end as part of President Zelensky's vision for a cashless society, though no firm timeline has been set. Separately, Ukraine has experienced a surge in cryptocurrency adoption, receiving over $50 million in crypto donations and allocating $15 million in crypto for military supplies. Ukraine recently legalized its crypto sector with new regulatory framework legislation, enabling easier acceptance of cryptocurrency donations by businesses.