Ukraine's government partnered with Stellar Development Foundation to build a central bank digital currency (CBDC) on the Stellar blockchain. The National Bank of Ukraine will use Stellar's consensus mechanism to develop the e-hryvnia, marking a major adoption of blockchain technology for sovereign digital currency.
Ukraine's Ministry of Digital Transformation and the Stellar Development Foundation signed a Memorandum of Understanding to develop Ukraine's central bank digital currency (CBDC) and virtual assets ecosystem. The National Bank of Ukraine, which has researched CBDC implementation since 2017, will now build the e-hryvnia on Stellar's blockchain using a private version of the network. Stellar's consensus mechanism (SCP) provides issuer-enforced finality and trusted relationships ideal for central bank operations. The partnership officially launched this month and represents a significant government adoption of blockchain technology alongside other recent Stellar partnerships including a German bank's euro stablecoin issuance.