The IGAMA company in partnership with UAPAY took part in the development and implementation of the electronic hryvnia (e-hryvnia) pilot project in Ukraine together with the National Bank of Ukraine (NBU). E-hryvnia is an electronic form of the national currency issued by the NBU, with the aim of effectively supplementing the cash and non-cash forms of the hryvnia.

The e-hryvnia can become a tool for ensuring the economic security of the state, strengthening monetary sovereignty, and also help the NBU maintain price and financial stability. IGAMA’s experience in creating a digital form of the hryvnia and electronic money, obtained thanks to cooperation with the NBU, is important, and will be used in future projects.

The introduction of the e-hryvnia will contribute to the evolution of the payment infrastructure, the digitalization of the economy, the spread of cashless payments, the reduction of their cost, the increase in the transparency of payments, and the increase of trust in the national currency.

Currently, the NBU is considering and developing various options for using the e-hryvnia, in particular:

– E-hryvnia for retail non-cash payments with the possible functionality of “programmed” money;

– E-hryvnia for the field related to the circulation of virtual assets;

– E-hryvnia to ensure the possibility of making cross-border payments.

The IGAMA company works closely with the NBU to develop not only the E-hryvnia project, but also the entire financial sector of Ukraine.