The Central bank of Ukraine has further advanced the digital hryvnia project

On November 29, the Central Bank of Ukraine presented its concept project for the central bank's digital currency, the E-hryvnia, to representatives of banks, non-bank financial institutions and the virtual asset market for discussion and feedback, BlockBeats reports. The regulator said it was considering and developing an electronic hryvnia for retail non-cash payments, related to the flow of virtual assets and enabling cross-border payments. The central bank will continue to develop digital hryvnia concept projects with payment market participants, virtual asset market participants and state institutions. It is reported that the central bank of Ukraine launched the Digital hryvnia project in September last year, with the aim of studying the feasibility of large-scale issuance of digital hryvnia. Oleksiy, deputy chairman of the Central Bank of Ukraine, said that the development and implementation of the digital hryvnia could be the next step in the development of Ukraine's payment infrastructure, which will contribute to the digitization of the economy, the further popularization of cashless payments, the reduction of costs and the increase of the level of transparency.