Ukraine signs agreement with Stellar Development Foundation to work on digital asset strategy, CBDC


The Ministry of Digital Transformation of Ukraine signed a memorandum of understanding with the Stellar Development Foundation, and the two parties agreed to cooperate in a number of initiatives related to digital assets.

According to statements released Monday, such projects will include assisting the Ukrainian central bank in its digital currency work and, more broadly, “developing a strategy for virtual assets in Ukraine”.

According to a press release, SDF will help Ukraine build the infrastructure for a modern virtual asset market and “develop Ukraine’s status as an innovative digital country in the Eastern European financial market”.

Deputy Minister of IT Development Digital Transformation Oleksandr Bornyakov said:

The Ministry of Digital Transformation is trying to create the legal environment for the development of virtual assets in Ukraine. We believe our collaboration with the Stellar Development Foundation will contribute to the development of the virtual asset industry and its integration into the global financial ecosystem.

In the statement, no definite statement was used regarding the date when SDF will start operating with Ukraine in 2021.

With the disclosure of this development, there was a significant increase in Stellar token XLM. XLM / USDT has climbed to the $ 0.173 band with a value gain close to 40 percent in the last three days, and its upward momentum continues today. As more information comes about the details of the agreement between Ukraine and Stellar and the start date, this could have a positive impact for the altcoin.


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