The National Bank will conduct open testing of the e-hryvnia.

The National Bank of Ukraine plans to launch a pilot project to create its own digital currency - the e-hryvnia.

This was reported by the NBU, stating that the pilot project is scheduled for 2025. However, deadlines may change depending on the readiness of participants in the financial market and the choice of a technological partner for testing the e-hryvnia.

The testing of the e-hryvnia will take place in an open environment with real users and payment service providers. The foundation of the digital currency will be the DLT (Distributed Ledger Technology).

The goal of the pilot project is to verify the capabilities of the e-hryvnia regarding the fulfillment of monetary functions, meeting the needs of payment service users, and testing hypotheses about the programmability of the digital currency.

The e-hryvnia will act as an analogue of the central bank digital currency (CBDC). It will be a liability of the National Bank and will exist in digital form. The feature of CBDC lies in the ability to program money, allowing them to be used in a limited way or for specific types of transactions.