Stellar Development Foundation will partner with Ukraine's Ministry of Digital Transformation to develop the country's CBDC and virtual asset infrastructure, including stablecoin regulation. The collaboration marks SDF's continued expansion into government digital currency projects across multiple countries.
The Stellar Development Foundation has agreed to work with Ukraine's Ministry of Digital Transformation to co-develop the country's central bank digital currency (CBDC) based on the hryvnia, along with broader virtual asset infrastructure and stablecoin regulation. While the National Bank of Ukraine previously explored using a private version of the Stellar blockchain in a 2019 pilot, today's announcement does not confirm whether the final CBDC will run on Stellar. SDF will act as an advisor to the Ministry's working group, with work beginning this month. This partnership follows similar Stellar-backed stablecoin launches in Argentina, Brazil, and Germany, positioning Ukraine as another key market for Stellar's digital currency and financial infrastructure initiatives.