TASCOMBANK and Bitt launched a pilot of the electronic hryvnia on Stellar, testing programmable payroll and payments for Ukrainian public employees under National Bank of Ukraine supervision.
TASCOMBANK and fintech firm Bitt have launched a pilot project to issue an electronic hryvnia on the Stellar blockchain, supervised by Ukraine's National Bank and supported by the Ministry of Digital Transformation. The pilot will test the digital currency for programmable payroll at Diia, peer-to-peer payments, and merchant transactions. TASCOMBANK will build the regulated electronic hryvnia using Bitt's Digital Currency Management System (DCMS), which provides minting, storage, issuance, distribution, and redemption capabilities. The project demonstrates Stellar's suitability for central bank digital currencies and regulated asset issuance, with Ukraine's payment services law expected to govern electronic money circulation starting in 2022.
