Participants of the Digital Money forum, organized by the Association of Ukrainian Banks, reported that after the full launch of the electronic hryvnia in Ukraine, a decrease in the volume of money transfers through commercial banks is expected.
E-hryvnia should allow such transactions without the mediation of financial institutions, which will eliminate the risk of losing funds in the event of bankruptcy of the latter. At the same time, banks will still be able to provide customers with deposit, credit and other services, including using e-hryvnia.
Also, banks will be able to develop modern financial products, such as:
- digital wallets for e-hryvnia;
- customer identification services;
- mobile service delivery platforms;
- new payment methods;
- investment advice;
- custodial and brokerage services for users of virtual assets;
- secure smart contracts and other software products for the digital economy.
Forum participants believe that the banks most adapted to the new conditions will form a new niche of financial services, including the use of e-hryvnia and virtual assets.