Ukraine is Considering the Possibility of Paying Salaries at CBDC
The Ministry of Digital Transformation of Ukraine is considering the possibility of testing the digital hryvnia by paying salaries to employees of the ministry in CBDC.
The Deputy Prime Minister of Ukraine and the head of the Ministry of Digital Transformation of the country, Mikhail Fedorov, told a local news agency that such a solution could become the first pilot project for the digital hryvnia, which is already being developed.
He believes there is a real need to test the CBDC to prevent misuse. Such a test method may be the payment of salaries to employees of the ministry in national digital currency.
As you know, the National Bank of Ukraine has already received permission to issue digital currency. At the end of July this year, the President of the country signed the relevant law on payment services.
For the past few years, the National Bank of Ukraine has been working on the creation and issue of digital currency. The Ministry of Digital Transformation is also taking part in the creation of the Ukrainian CBDC, in partnership with the Stellar Development Foundation.