E-hryvnia: what prospects for a new form of Ukrainian money?

  • As a method of payment for retail goods. In this case, it refers to transactions for goods and services between users or users and individuals. But on the other hand, the sphere of contactless payments and transfers is expanding year by year. The feasibility of digital currency is being questioned. But electronic money or a wallet can be programmed for certain payments. For example, only to pay for certain services or goods, as was done with the state program “e-aid”.
  • The purchase of virtual goods and services. This is a huge market, which amounts to at least $950 billion. For the same reason, central banks in many countries are now actively engaged in the creation of their electronic currencies. It should also be clarified that CBDC is not considered a virtual asset, but another form of fiat money.
  • Making cross-border payments. This method provides lower commissions due to the reduction of intermediaries in the transfer of money. This scenario is mainly used to transfer funds from one user to another. In Ukraine, it may be quite a demand, as our citizens make frequent transfers from abroad to their homes.

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Alyona Shevtsova

Alyona Shevtsova

CEO of the international payment system LEO, the shareholder of IBOX Bank