Cryptocurrency hryvnia to appear in Ukraine in a week

Starting December 18, users of the Ukrainian cryptocurrency exchange WhiteBIT will have access to the UAHg stablecoin pegged to the hryvnia at a 1:1 ratio. The asset will be available for crypto users in the Ethereum, Tron, and BNB Chain networks.

According to WhiteBIT, the UAHg stablecoin will provide a convenient and transparent transfer of virtual assets, expand their practical application, and avoid the risks of loss of value and liquidity.

The project focuses on creating a hryvnia digital infrastructure for transactions without double conversion.

«UAHg does not imply any additional costs or fees. Businesses will be able to use stablecoin to launch new innovative products and attract investments,» said WhiteBIT founder Vladimir Nosov.

The exchange has also published a white paper on the digital asset.

At the end of November, Monobank co-founder Oleg Gorokhovsky announced the possibility of issuing a cryptocurrency card in partnership with the WhiteBIT crypto exchange. It is noteworthy that this is not the first time the bank has talked about issuing a cryptocurrency card. Monobank prepared a project back in 2021, but it was not approved by the NBU at that time.