How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank
The Stellar Development Foundation (SDF) has been working with the Ukrainian government on their national Central Bank Digital Currency (CBDC) for a while. The collaboration has started to produce results as the SDF, Bitt, and TASCOMBANK recently deployed a pilot project for the electronic hryvnia on this network. Related Reading | An Introduction To Stellar And XLM: Mission, Control, And Consensus Per a press release, the partners will test the CBDC’s use cases and its programmable capabilities. These will be leveraged to pay employees at a company called Diia, and to perform....
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Ukraine’s Ministry of Digital Transformation supports a Stellar-based private stablecoin project developed by a local bank. Tascombank, one of the oldest commercial banks in Ukraine, is launching a Stellar-based pilot for Ukraine’s national fiat currency, the hryvnia.The Stellar Development Foundation (SDF) announced on Tuesday a private electronic hryvnia pilot launched by Tascombank and fintech company Bitt.The electronic hryvnia pilot is being implemented under the supervision of the National Bank of Ukraine and is supported by the Ministry of Digital Transformation (MDT).Oleksandr....
The Stellar Development Foundation (SDF) has published the end-of-year metrics for their ecosystem and the underlying network. Presented by Denelle Dixon, Executive Director, and CEO at the SDF, the metrics showed a significant increase across the board. Related Reading | How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank In 2021, per the report by the SDF, the Stellar Network experienced a 32% rise in its number of total accounts with respect to 2020. The number of total accounts stands at 6 million. On the other hand, the Stellar Network has processed over 1.8 billion....
Paying ministry employees in e-hryvnia could be a suitable first pilot for the central bank digital currency currently in development. Mikhail Fedorov, Ukraine’s Deputy Prime Minister and the head of the country’s Ministry of Digital Transformation, has revealed a possible early use case for the nation’s planned central bank digital currency (CBDC).In a recent interview published by Ukrainian media outlet TSN, the minister revealed considerations within the ministry to test out the CBDC by using the electronic currency in staff salary payments:“Frankly as one of the first pilots, we have....
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this new test will include a fixed supply of the mentioned token, and detailed this pilot will be executed during the last six months of this year.
Central Bank of Brazil Advances CBDC Project
The Central Bank of Brazil has offered details about the advancements it has made regarding its CBDC project, the digital real. Its president,....
The Central Bank of Bhutan, the Royal Monetary Authority (RMA), has partnered with Ripple to start testing a model of its central bank digital currency (CBDC) using Ripple’s technology. The test will be using Ripple’s own CBDC private ledger, to support similar use cases. The pilot test will include retail, cross-border and wholesale payments for the proposed CBDC. Bhutan Involves Ripple in CBDC Pilot Test Bhutan, a small country located in the south of Asia, is working on the issuance of a central bank digital currency of its fiat currency, known as the Ngultrum. The nation....