Information about cooperation between Stellar and the Ukrainian government provoked the growth of cryptocurrency by 33%

Yesterday, January 4, information appeared in official sources about future cooperation between the Stellar cryptocurrency project and the Ministry of Digital Transformation of Ukraine. In addition, some media outlets published news about the use of the Stellar platform for the future development of digital UAH, however, the authorities denied this information.

The document published on the official Stellar website says that the Stellar Development Foundation (SDF) signed a cooperation agreement with the Ministry of Digital Transformation of Ukraine. As part of the agreements, Stellar’s responsibilities cover the following areas:

  • cooperation on the development of the virtual assets market in Ukraine;
  • provision of support to projects related to virtual assets;
  • implementation and regulation of stablecoin circulation in Ukraine; and,
  • facilitation of the development of the digital currency of the Central Bank in Ukraine.

Deputy Minister Alexander Bornyakov confirmed this information, specifying that the role of the Ministry in creating the digital currency of the central bank is limited mainly to consultations in working groups.

Source: Coinmarketcap

Following the official announcement of the collaboration and news in the media, Stellar reacted with 33% growth. On the largest cryptocurrency exchange Binance, the XLM price rose to $0.205

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