E-money market in Ukraine more than doubles in 2019

The number of "electronic wallets" grew not so significantly, that is by 18%, to 74 million.

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The National Bank of Ukraine (NBU) say the total amount of electronic money issued in Ukraine in 2019 grew by almost 2.5 times, up to UAH 203 million (US$8.3 million).

Transactions with electronic money in Ukraine over the period under review skyrocketed by more than 2.3 times, to UAH 16.7 billion (US$680 million), according to the regulator's infographic posted on Facebook on February 28.

"This is due to the growing interest among market participants in this payment tool," the NBU said.

At the same time, the number of "e-wallets" grew not so significantly, that is, by 18%, to 74 million.

Read alsoNBU strengthens official hryvnia to UAH 24.56 to U.S. dollar on Feb 28

The central bank reminds that the ceiling for e-money allowed to be stored in an unreplenishable electronic device, is UAH 4,000 (US$163).

At the same time, up to UAH 14,000 (US$570) can be stored in a replenishable device, with transactions staying below a total of UAH 62,000 (US$2,524) per year.

As UNIAN reported earlier, the National Bank continued to explore the possibility of issuing its own digital currency, e-hryvnia. The regulator will be ready to implement the project after it is confident in technological readiness and the absence of threats to the country's price and financial stability.

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