Ukraine Government Chooses Stellar to Build National Digital Currency.

in LeoFinance3 years ago

15 days back I shared a post with you showcasing Ukraine as the perfect breeding ground for worldwide crypto mass adoption.



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Businesses already have started accepting bitcoin as a method of payment and the government has been developing the National Digital Currency UAX pegged to the local Hryvnia (UAH).

In pleasantly shocking news, the Ukrainian government has now finalized their choice. Stellar blockchain network will be the foundation where the new central bank digital currency developed.

Ukraine has been working on the CBDC since 2017, now. That was when the first rumors about the well-awaited UAX began to sprout. Although there hasn't been much noise about UAX since, this new partnership is making massive news both locally and internationally.

The SDF and Ukraine's Ministry of Digital Foundation have already signed a "memorandum of understanding" to begin the building of virtual assets and national digital currency. This will rocket-launch Ukraine's economic and financial status in the global finance ecosystem.

As of now, crypto is legal and well accepted in the country. Considering the recent developments in the country's governance and outlook at the future, this will be yet another trophy for the country to show off.

This latest "MOU" will trigger a worldwide eagle-eye view on how this partnership benefits the country and its people. Eventually, it should lead to more countries shifting towards the inevitable - a "cryptovised" economy.


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