National Bank of Ukraine puts off launch of e-hryvnia

MOSCOW. Oct 24 (Interfax) - The National Bank of Ukraine (NBU) has postponed the launch of the electronic hryvnia due to the crisis and will use this time to find a better technical solution and analyze other central banks' experience in introducing a national digital currency, Ukrainian media reported citing NBU Governor Andrei Pyshny.

"It is precisely because of the crisis and taking into account the volume of investment this decision may require that the National Bank has decided to put off this launch [...]," media outlets quoted Pyshny as saying at a press briefing in Kiev.

Pyshny said that he had discussed this issue in great detail with counterparts from the European Central Bank and Germany's Bundesbank, and the NBU team also worked with the Central Bank of Singapore.

"We have closely been watching the developments, discussions, risks taking place around this issue [...] in order to ensure that this decision is of top quality and is based on the best experience and practices," he said.