Future of Digital Hryvnia Implementation in Ukraine
The development of the digital hryvnia is ongoing, but its actual implementation in 2027 is still uncertain.
According to Deputy Head of the National Bank of Ukraine Oleksiy Shaban, launching the e-hryvnia will require substantial financial resources, and spending them during wartime could be considered unethical.
The regulator plans to initiate a pilot project to test the digital currency not only within the NBU but also in real-world conditions — for payments, transfers, and government programs. However, the cost of the pilot is high, and technical requirements complicate the process.
"We are moving forward, but I can't say that 2027 will be the year for the e-hryvnia's implementation," noted Oleksiy Shaban.
Recall that the concept project for the e-hryvnia as a digital currency was presented by the regulator in November 2022. The primary purpose of the electronic hryvnia is to effectively fulfill all the functions of money, complementing both cash and cashless forms of hryvnia. The use of e-hryvnia should be convenient and accessible for all segments of the population, legal entities, government bodies, banks, and non-bank financial institutions.
In October 2022, the State Enterprise "Ukrainian Institute of Intellectual Property" (UKRPATENT) registered the trademark "e-hryvnia" and e-hryvnia, owned by the NBU.
