Stellar signs deal with Ukraine to work on CBDC, stablecoins, and virtual asset infrastructure

Wednesday 6 January 2021 14:20 CET | News

The Stellar Development Foundation (SDF) has signed a deal with Ukraine’s Ministry of Digital Transformation to work on both a central bank digital currency (CBDC) as well as stablecoin and virtual asset infrastructure.

The project includes the ‘development of the infrastructure for a Ukrainian national digital currency’, however, it is not limited to a digital hryvnia currency. It includes Stellar helping with developing a virtual assets market in the country, assisting with implementing stablecoins using the Stellar blockchain, and developing a digital currency for the Central Bank, Ledger Insights cited Deputy Minister of Digital Transformation Oleksandr Bornyakov.

Numerous companies are competing to work on CBDC projects. For instance, R3’s Corda made significant headway with Accenture and cryptoBLK as implementors. To date, the organisation that has embraced the widest array of participants is the Banque de France, which chose eight teams, many of which created considerable consortia, the online publication added.

To learn more about this topic, CBDCs, download our ebook Central Bank Digital Currencies for Dummies – A Quick Guide into CBDCs.

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Keywords: CBDC, stablecoins, blockchains, digital assets, partnership, Stellar, Ukraine, virtual asset
Categories: DeFi & Crypto & Web3
Countries: Ukraine
This article is part of category

DeFi & Crypto & Web3