The development of the digital hryvnia is ongoing, but its implementation in 2027 is uncertain.
According to Forbes Ukraine, Deputy Governor of the National Bank of Ukraine, Oleksiy Shaban, stated that launching the digital currency will require significant financial resources, and spending them during wartime may raise ethical concerns.
The regulator plans to initiate a pilot project that will allow testing the digital currency not only within the NBU but also in real-world scenarios for payments, transfers, or government programs. However, the cost of the pilot is high, and the technical requirements are complex.
"We are making progress, but I cannot say that 2027 will be the year of e-hryvnia implementation," noted Oleksiy Shaban.
It is worth recalling that the regulator presented the concept of e-hryvnia as digital money in November 2022. The key purpose of the electronic hryvnia is to effectively perform all functions of money, complementing both cash and non-cash forms. 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 Intellectual Property Institute" (UKRPATENT) registered the trademark "e-hryvnia" and e-hryvnia, which belongs to the NBU.