After the full launch of the electronic hryvnia in Ukraine, a decrease in the volume of money transfers through commercial banks is expected. This was stated by the participants of the Digital Money forum organized by AUB.
According to them, the e-hryvnia will allow such operations to be carried out without the mediation of financial institutions, which will eliminate the risk of losing funds in the event of bankruptcy of the latter.
At the same time, banks will still be able to provide customers with deposit, credit and other services, including using e-hryvnia.
In addition, they will have the opportunity to develop modern financial products, including:
- digital wallets for e-hryvnia;
- customer identification services;
- mobile service delivery platforms;
- new payment methods;
- investment advice;
- custodial and brokerage services for users of virtual assets;
- secure smart contracts and other software products for the functioning of the digital economy.
According to the forum participants, the banks most adapted to the new conditions will form a new niche of financial services, in particular with the use of e-hryvnia and virtual assets.
Recall that in early February 2022, the Ministry of Digital Development of Ukraine turned to the National Bank with a request to speed up the development of the electronic hryvnia. A pilot project to launch the CBDC is planned for 2024.
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After the full launch of the electronic hryvnia in Ukraine, a decrease in the volume of money transfers through commercial banks is expected. This was stated by the participants of the Digital Money forum organized by AUB.
According to them, the e-hryvnia will allow such operations to be carried out without the mediation of financial institutions, which will eliminate the risk of losing funds in the event of bankruptcy of the latter.
At the same time, banks will still be able to provide customers with deposit, credit and other services, including using e-hryvnia.
In addition, they will have the opportunity to develop modern financial products, including:
- digital wallets for e-hryvnia;
- customer identification services;
- mobile service delivery platforms;
- new payment methods;
- investment advice;
- custodial and brokerage services for users of virtual assets;
- secure smart contracts and other software products for the functioning of the digital economy.
According to the forum participants, the banks most adapted to the new conditions will form a new niche of financial services, in particular with the use of e-hryvnia and virtual assets.
Recall that in early February 2022, the Ministry of Digital Development of Ukraine turned to the National Bank with a request to speed up the development of the electronic hryvnia. A pilot project to launch the CBDC is planned for 2024.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!