Ukrainian government and Stellar to develop virtual asset and CBDC infrastructure

On December 28, the Ministry of Digital Transformation of Ukraine and the Stellar Model Foundation (SDF) signed a Memorandum of Idea and Cooperation, internal which they’re going to work on the improvement of a methodology for digital belongings in Ukraine.

Under the Memorandum, the Ministry of Digital Transformation and SDF will work to invent a recent digital asset market infrastructure and affords a employ to Ukraine’s reputation as an progressive digital nation within the financial market in Eastern Europe.

“The Ministry of Digital Transformation is working on developing the qualified atmosphere for the improvement of digital belongings in Ukraine. We deem our cooperation with the Stellar Model Foundation will make a contribution to construction of the digital asset industry and its integration into the global financial ecosystem,” said Oleksandr Bornyakov, Deputy Minister of Digital Transformation for IT Model. “But every other crucial aspect of this cooperation is contributing to the improvement of the infrastructure for a Ukrainian nationwide digital foreign money. Pretty loads of the sphere’s leading worldwide locations are developing their get nationwide digital currencies. The National Monetary institution of Ukraine has been researching the likelihood of CBDC implementation since 2017. It demonstrates Ukraine’s circulation against one of significant financial trends. On the Ministry, we aspire to make sure our nation’s adaptation to technological enhancements and competitiveness within the financial market in Eastern Europe.”


The memorandum outlines the core focal point of the partnership as follows:

  • Cooperation on the improvement of the digital belongings market in Ukraine;
  • Provision of give a employ to to projects linked to digital belongings;
  • Implementation and regulation of stablecoin circulation in Ukraine; and,
  • Facilitation of the improvement of the digital foreign money of the Central Monetary institution in Ukraine.

“We deem digital belongings and nationwide digital currencies are some of the sharp enhancements of our lifetimes and we’re angry to play a project within the creation of Ukraine’s digital asset infrastructure,” said Denelle Dixon, CEO and Executive Director, Stellar Model Foundation. “Throughout the leadership of the Ministry, Ukraine has demonstrated its dedication to fostering an environment of innovation for the digital economic system. We survey forward to working with the Ministry and varied stakeholders to digitize the hryvnia, to bring Stellar-based instruments and services to the oldsters and companies of Ukraine, and to introduce new partnership opportunities in Ukraine to corporations within the Stellar ecosystem.”

Stellar Model Foundation will officially open its exercise with Ukraine later this month.

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