Ukraine Commercial Bank to Test Digital Currency Built on Stellar

Posted on by American Coins & Gold

Ukraine Commercial Bank to Test Digital Currency Built on Stellar
One of Ukraine’s oldest commercial banks, Tascombank, is planning to test an electronic hryvnia, a digital version of its sovereign currency.The electronic hryvnia will be built and tested on the Stellar network and be deployed via global fintech platform Bitt’s digital currency management system (DCMS), the bank said in a statement published Tuesday. The pilot will test the digital currency’s effectiveness in public employee payroll, peer-to-peer payments and merchant payments.Valeriy Danilenko, Tascombank’s deputy chairman who is responsible for e-commerce, said the pilot is supported by Ukraine’s Ministry of Digital Transformation and all “e-money activities” by the commercial bank are under…