Ukraine will join the European currency payment zone.

The National Bank has started a crucial stage of cooperation with the European Payments Council, which coordinates the activities of SEPA (Single Euro Payments Area), the NBU announced on Facebook. Ukraine will continue the dialogue and expert discussions to determine the criteria for the accession process and develop a road map and a step-by-step plan for rapid integration. Joining SEPA will be necessary for Ukraine’s European integration and provide new opportunities for the Ukrainian economy. This will contribute to simplifying access to the EU market for Ukrainian businesses, the reduction of technical barriers for Ukrainian fintech to enter the EU financial services market, and cost reductions for money transfers to and from EU countries.