The Ukrainian TasCombank tests Stellar-based e-rhryvnia-fintech

based in Stellar.

TasCombank, one of the oldest banking institutions in Ukraine, has completed the pilot test of a digital currency based on the Stellar network. The bank believes that its e-money platform represents an economically sustainable implementation of blockchain technology.

TasCombank leads tests with new Ukrainian digital currency through

A "electronic griwna" was tested by the Ukrainian TasCombank during the pilot phase of a project to create a currency with the Stellar network. While the experiments used for comparisons between buyers and sellers, the financial institution in A shared with . .

operations with the new digital asset were carried out in accordance with the current know-your-customer and anti-money laundering methods, the bank pointed out this in the document cited by the Crypto news agency forlog.

The TasCombank also emphasized that its research had shown a number of advantages of the use of blockchain, including transparency in all phases of circulation and between all participants in transactions, increased security and confidentiality for user data, low costs and high capacity.

The circulation system for electronic money examined during the pilot project is an economically sustainable business model for the use of blockchain technology, the authors of the report stated and explained that they "consider the pilot project to be successful and promising in relation to further product development and implementation."

The bank added that it is planning to continue her studies on the output and distribution of blockchain-based electronic money. One of the areas that will cover its future research will be the possible use of such a currency in cashless payments in retail.

The TasCombank also announced that the National Bank of Ukraine (NBU) believes that the results of its pilot project started by experts from the business and central banks that started at the end of 2021 can be used for further analyzes.

In January 2021, the Ministry of Digital Transformation in Kiev chosen The Stellar Development Foundation as a partner in the development of the country's ecosystem, including the infrastructure for the digital currency of the NBU Central Bank ( cbdc ). In November last year the NBU A "e-griwna concept draft" to members of the crypto industry, banks and others Financial institutes.

lubomir Tassew

lubomir Taskensev is a journalist from the technically experienced Eastern Europe, to the Hitchen's quote: "To be a writer is what I am and not what I do." In addition to crypto, blockchain and fintech, international politics and business are two other sources of inspiration.

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