Pensioners, workers, and budget employees will be transitioned to electronic hryvnia: what the National Bank is preparing.

The National Bank of Ukraine plans to launch its own digital currency - e-hryvnia by 2025. The first to test the new currency will be pensioners and budget employees. Each operation with e-hryvnia will be tracked, making the system less susceptible to corruption.

E-hryvnia will become the digital currency of the National Bank of Ukraine. It will be the third form of money alongside cash and non-cash funds and will not depend on commercial banks. The digital hryvnia will provide more opportunities for centralized control and management.

Main objectives of e-hryvnia implementation

• Testing new technologies. E-hryvnia will be built on the basis of distributed ledger technology, allowing for the secure registration of all operations.
• Expanding opportunities for users. With e-hryvnia, people will be able to make payments, transfer funds, and accumulate them without intermediaries.
• Managing the money supply. The National Bank will be able to stimulate the economy by calculating interest on the balance of funds or imposing restrictions so that funds do not 'sit idle.'
• Transparency of transactions. Each operation will be tracked thanks to distributed ledger technology, reducing the risk of corruption.

Testing of e-hryvnia will be conducted openly, and anyone interested will be able to participate. The project has been in development since 2018, but technological requirements and infrastructure adaptation have caused delays. Successful implementation requires finding a technological partner that meets the business requirements and architecture of e-hryvnia.