Ukraine to develop virtual assets infrastructure and embrace CBDC with the help of Stellar Development Foundation
Deputy Minister Alexander Bornyakov announced today its partnership with the Stellar Development Foundation to facilitate the development of virtual assets infrastructure and the national digital currency of Ukraine.
“The Ministry of Digital Transformation is working on creating the legal environment for the development of virtual assets in Ukraine. We believe our cooperation with the Stellar Development Foundation will contribute to development of the virtual asset industry and its integration into the global financial ecosystem. Another important aspect of this cooperation is contributing to the development of the infrastructure for a Ukrainian national digital currency. Most of the world’s leading countries are developing their own national digital currencies. The National Bank of Ukraine has been researching the possibility of CBDC implementation since 2017. It demonstrates Ukraine’s movement towards one of major financial trends. At the Ministry, we aspire to ensure our country’s adaptation to technological innovations and competitiveness in the financial market in Eastern Europe.”- Aleksandr Bornyakov, Deputy Minister of Digital Transformation for IT Development.
“We believe digital assets and national digital currencies are one of the most important innovations of our lifetimes and we are excited to play a role in the creation of Ukraine’s digital asset infrastructure. Through the leadership of the Ministry, Ukraine has demonstrated its commitment to fostering an environment of innovation for the digital economy. We look forward to working with the Ministry and other stakeholders to digitize the hryvnia, to bring Stellar-based tools and services to the people and businesses of Ukraine, and to introduce new partnership opportunities in Ukraine to businesses in the Stellar ecosystem.”-Denelle Dixon, CEO and Executive Director, Stellar Development Foundation.
Ukraine is ranked as the world’s leader in the Global Crypto Adoption Index 2020 followed by Russia and Venezuela, according to a research published by Chainalysis last fall.
About The Ministry and Committee of digital transformation of Ukraine
The Ministry and Committee of digital transformation of Ukraine goals are to provide all public services online to individuals and businesses, encourage Ukrainians to participate in the digital skills development program and provide high-speed internet for infrastructures, settlements and social facilities.
Official Announcement: https://thedigital.gov.ua/news/mintsifra-spivpratsyuvatime-zi-stellar-development-foundation-nad-rozvitkom-rinku-virtualnikh-aktiviv
About Stellar
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Dozens of financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 4.7 million accounts.
Official Announcement: https://stellar.org/press-releases/ukrainian-ministry-of-digital-transformation-to-develop-virtual-assets-and-to-facilitate-cbdc-infrastructure-with-the-stellar-development-foundation
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