{"id":34357,"date":"2021-01-05T10:05:24","date_gmt":"2021-01-05T08:05:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34357"},"modified":"2025-08-28T20:06:20","modified_gmt":"2025-08-28T17:06:20","slug":"ukraines-ministry-of-digital-transformation-and-stellar-sign-memorandum-of-understanding-on-cooperation-in-virtual-assets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ukraines-ministry-of-digital-transformation-and-stellar-sign-memorandum-of-understanding-on-cooperation-in-virtual-assets\/","title":{"rendered":"Ukraine\u2019s Ministry of Digital Transformation and Stellar sign memorandum of understanding on cooperation in virtual assets"},"content":{"rendered":"<p>On December 28, Ukraine\u2019s Ministry of Digital Transformation and the Stellar Development Foundation (SDF) signed a memorandum of understanding and cooperation. Together they will develop a strategy regarding virtual assets in Ukraine.<\/p>\n<p><!--more--><\/p>\n<p><iframe loading=\\\"lazy\\\" style=\\\"border: none; overflow: hidden;\\\" src=\\\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fbornyakov%2Fposts%2F10224228176516093&#038;width=500&#038;show_text=true&#038;height=735&#038;appId\\\" width=\\\"500\\\" height=\\\"735\\\" frameborder=\\\"0\\\" scrolling=\\\"no\\\" allowfullscreen=\\\"allowfullscreen\\\"><\/iframe><\/p>\n<p>The document outlines the partnership as follows:<\/p>\n<ul>\n<li>cooperation in developing the virtual assets market in Ukraine;<\/li>\n<li>support for projects related to virtual assets;<\/li>\n<li>implementation and regulation of the use of stablecoins in Ukraine;<\/li>\n<li>assistance in developing the central bank digital currency of Ukraine.<\/li>\n<\/ul>\n<p>The last item drew bewilderment in the local community after incorrect headlines in some media suggesting that the Ministry of Digital Transformation had chosen Stellar as the platform to build a central bank digital currency (CBDC).<\/p>\n<p>The community stressed that CBDC issuance is the exclusive prerogative of the National Bank (NBU), and that a contractor should be chosen through a public tender.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\"><a href=\\\"https:\/\/t.co\/VVe86fAuWb\\\">https:\/\/t.co\/VVe86fAuWb<\/a> NBU is the only entity, which is able to issue the national currency UAH in any form: cash of digital<\/p>\n<p>\u2014 Sergey | Everstake (@sergattic) <a href=\\\"https:\/\/twitter.com\/sergattic\/status\/1346299970547286018?ref_src=twsrc%5Etfw\\\">January 5, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>For the pilot e-hryvnia project, the NBU did use a private version of Stellar several years ago but concluded that the platform is not suitable for issuing a CBDC.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The official report of <a href=\\\"https:\/\/twitter.com\/NBUkraine_eng?ref_src=twsrc%5Etfw\\\">@NBUkraine_eng<\/a> <a href=\\\"https:\/\/t.co\/q4gMRSMMal\\\">https:\/\/t.co\/q4gMRSMMal<\/a> (page 33) is telling Stellar can NOT be used due to its limitation <a href=\\\"https:\/\/t.co\/HDdKF3yVUC\\\">pic.twitter.com\/HDdKF3yVUC<\/a><\/p>\n<p>\u2014 Sergey | Everstake (@sergattic) <a href=\\\"https:\/\/twitter.com\/sergattic\/status\/1346299967145652224?ref_src=twsrc%5Etfw\\\">January 5, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The community also noted a rise in the price of the XLM token after Western media announcements, which may have stemmed from misinterpretation of the memo&#8217;s CBDC section.<\/p>\n<div id=\\\"attachment_121321\\\" style=\\\"width: 1034px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-121321\\\" class=\\\"wp-image-121321 size-large\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-05-v-08.51.07-1024x666.png\\\" alt=\\\"\u041c\u0438\u043d\u0446\u0438\u0444\u0440\u0430 \u0423\u043a\u0440\u0430\u0438\u043d\u044b \u0438 Stellar \u043f\u043e\u0434\u043f\u0438\u0441\u0430\u043b\u0438 \u043c\u0435\u043c\u043e\u0440\u0430\u043d\u0434\u0443\u043c \u043e \u0441\u043e\u0442\u0440\u0443\u0434\u043d\u0438\u0447\u0435\u0441\u0442\u0432\u0435 \u0432 \u043e\u0431\u043b\u0430\u0441\u0442\u0438 \u0432\u0438\u0440\u0442\u0443\u0430\u043b\u044c\u043d\u044b\u0445 \u0430\u043a\u0442\u0438\u0432\u043e\u0432\\\" width=\\\"1024\\\" height=\\\"666\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-05-v-08.51.07-1024x666.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-05-v-08.51.07-300x195.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-05-v-08.51.07-768x499.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-05-v-08.51.07-1536x998.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-05-v-08.51.07-2048x1331.png 2048w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><\/p>\n<p id=\\\"caption-attachment-121321\\\" class=\\\"wp-caption-text\\\">XLM\/USD. Data: TradingView.<\/p>\n<\/div>\n<p>In ForkLog\u2019s interview, Deputy Minister Oleksandr Bornyakov said:<\/p>\n<blockquote>\n<p>\u00abAll information about our cooperation with the Stellar Development Foundation is set out in the official releases of both sides. Information that goes beyond the releases and is not confirmed by our representatives is merely speculation. The information presented in CoinDesk does not reflect reality. We have already sent CoinDesk an official letter asking them not to go beyond the releases in their articles\u00bb.<\/p>\n<\/blockquote>\n<p>The Ministry of Digital Transformation\u2019s role in CBDC development is limited to expert advice in working groups and work on projects related to the implementation of a digital currency. In Bornyakov\u2019s view, the expertise of SDF specialists will be useful in achieving the stated goals.<\/p>\n<p>As reported in November, the NBU initiated the bill \u201cOn Payment Services,\u201d <a href=\"https:\/\/u1f987.com\/en\/news\/national-bank-of-ukraine-initiates-bill-granting-itself-the-right-to-issue-the-e-hryvnia\">containing the definition of CBDC and enshrining the NBU&#8217;s right to issue them.<\/a><\/p>\n<p>Testing results of the e-hryvnia were presented by the regulator in mid-2019, and the MVP with Distributed Lab in February 2020.<\/p>\n<p>An alternative digital hryvnia project was developed by Kuna. We analysed their differences in a dedicated piece.<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"beSyQqKvNv\\\">\n<p>E-hryvnia vs. cryptogrivna: will the two Ukrainian digital coins clash?<\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u201cE-hryvnia vs. cryptogrivna: will the two Ukrainian digital coins clash?\u201d \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/exclusive\/e-grivna-vs-kriptogrivna-stolknutsya-li-lbami-dve-ukrainskie-tsifrovye-monety\/embed#?secret=sPQZB6Cz9o#?secret=beSyQqKvNv\\\" data-secret=\\\"beSyQqKvNv\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 all the news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 28, Ukraine\u2019s Ministry of Digital Transformation and the Stellar Development Foundation (SDF) signed a memorandum of understanding and cooperation. They will jointly develop a strategy regarding virtual assets in Ukraine.<\/p>\n","protected":false},"author":1,"featured_media":34358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,243,16],"class_list":["post-34357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-stellar","tag-ukraine"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34357"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34357\/revisions"}],"predecessor-version":[{"id":34359,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34357\/revisions\/34359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34358"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}