Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency

Stellar Blockchain Partners with Ukrainian Government to build the Country’s CBDC

Solomon Odunayo January 4, 2021 2 min read
Decentralized Finance (DeFI) Is Coming To Stellar Lumens (XLM)

As a report has it, the government of Ukraine has solicited the help of Stellar blockchain platform to build the digital form of its national currency, which is generally known as central bank digital currency (CBDC).


trade now

The Ministry of Digital Transformation of Ukraine and the Stellar Development Foundation (SDF) signed a Memorandum of Understanding to build a virtual assets ecosystem and national digital currency of Ukraine.

Read Also: Ripple Moves to Bring XRP Ledger to the World of Central Bank Digital Currencies (CBDCs)

According to Oleksandr Bornyakov, the Digital Transformation and IT Deputy Minister, since 2017, the National Bank has been researching the possibility of implementing CBDC. So, the partnership with Stellar blockchain platform is expected to make the development a reality.

In a statement, Oleksandr Bornyakov says as follows:

“The Ministry of Digital Transformation is working on creating the legal environment for the development of virtual assets in Ukraine. We believe our cooperation with the Stellar Development Foundation will contribute to development of the virtual asset industry and its integration into the global financial ecosystem.”

Stellar, which was launched in 2014 as a digital currency and non-profit organization by the co-founder and former CTO of Ripple, Jed McCaleb, was also chosen about a month ago by the German bank, Bankhaus von der Heydt (BVDH), as the means to issue a euro stablecoin.

According to the CEO of Stellar Development Foundation, Denelle Dixon, the partnership with the government of Ukraine to digitize the hryvnia will be launched officially this month.

Dixion noted via an email to CoinDesk:

“We’ve been in conversations with governments and institutions all over the world about the key considerations for issuing CBDCs. It’s important to remember many, if not all, of these organizations weren’t designed to be technology companies and that they have many audiences that they are supporting. That makes a public-private partnership so essential to getting this right.”

Read Also: Ethereum Blockchain Chosen for Issuing CBDC by Reserve Bank of Australia

In another email to CoinDesk, Jason Chlipala, the Stellar COO said:

“SCP [Stellar’s consensus mechanism] would well serve a central bank, reflecting the trusted relationships it would hold and ultimately award it a significant vote in the consensus protocol.”


Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

Trade Now

Continue Reading

Previous: Analyst Who Called Bitcoin Bottom Says Ethereum Is Poised to Print New All-Time High
Next: U.S. Federal Regulator Says Banks Can Now Make Payments Using Stablecoins

Related Stories

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
2 min read
  • Blockchain
  • Cryptocurrency
  • Terra (LUNA)

Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain

May 25, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,553.00
-0.75%
ethereum
Ethereum (ETH)
$1,831.80
-6.79%
tether
Tether (USDT)
$1.00
0.18%
usd-coin
USD Coin (USDC)
$1.00
0.11%
binancecoin
BNB (BNB)
$311.95
-5.01%
ripple
XRP (XRP)
$0.397677
-2.38%
Binance USD
Binance USD (BUSD)
$1.00
0.31%
cardano
Cardano (ADA)
$0.486347
-5.96%
dogecoin
Dogecoin (DOGE)
$0.079478
-5.63%
polkadot
Polkadot (DOT)
$9.31
-6.67%

Recent Posts

  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet
  • Litecoin To Be Delisted Out Of Major Crypto Exchanges

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
3 min read
  • Cryptocurrency Brokers News and Reviews

CharterPrime Review – Is CharterPrime Scam or a Proper Broker?

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%