Tascombank, Ukraine's oldest commercial bank, will pilot a digital hryvnia on Stellar using Bitt's digital currency management system. The test will cover payroll, peer-to-peer, and merchant payments with support from Ukraine's Ministry of Digital Transformation.
Ukraine's Tascombank announced plans to test an electronic hryvnia, a digital version of the sovereign currency, built on the Stellar network and deployed via fintech platform Bitt's Digital Currency Management System. The pilot, supported by Ukraine's Ministry of Digital Transformation and regulated by the central bank NBU, will test the digital currency for public employee payroll, peer-to-peer payments, and merchant transactions. The test is anticipated to launch in 2022 and will use programmable payroll with employees at Diia, a public IT solutions enterprise. This follows Ukraine's legislative groundwork, including a July law allowing the NBU to issue a CBDC and positioning it alongside cash and electronic money.