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RESEARCH CENTER FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS of Ukraine (KHARKIV, UKRAINE)

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Liburkina L. M.

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Prospects for the Development of Cryptocurrency-Based Payments in the Banking Sector
Sus L. V., Sus Y. Y., Storozhuk I. A.

Sus, Lesia V., Sus, Yurii Yu., and Storozhuk, Ivanna A. (2026) “Prospects for the Development of Cryptocurrency-Based Payments in the Banking Sector.” Business Inform 7:506–517.
https://doi.org/10.32983/2222-4459-2026-7-506-517

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 336.717:004.738.5:336.74

Abstract:
The study addresses the pressing issues of adapting to the era of digital transformation, with particular emphasis on the integration of cryptocurrencies into payment systems and the development of cryptocurrency-based settlements within the banking system of Ukraine. The aim of this research is to comprehensively examine the prospects for the development of cryptocurrency-based payment transactions in the banking sector and to assess the strength of the relationship between the exchange rates of the world’s leading cryptocurrencies. The object of the study comprises financial transactions involving cryptocurrencies and the organization of payment processes through the implementation of innovative financial instruments in banking activities for cryptocurrency settlements. The subject of the research includes the methodological, theoretical, and applied aspects of developing cryptocurrency-based payment systems in the banking sector. The study employs a combination of general scientific and specialized research methods. In particular, the system approach, structural analysis, comparative analysis, economic and logical methods, and correlation analysis were applied to identify the distinctive features of cryptocurrencies and determine the key characteristics of cryptocurrency transactions within the banking system. The article summarizes the main characteristics of cryptocurrency transactions and identifies the major advantages and disadvantages of cryptocurrencies. A comparative analysis of payment systems was conducted, the Top-10 cryptocurrencies by market capitalization were identified, and a ranking of the wealthiest Ukrainian cryptocurrency holders was compiled. The study also proposes the key mechanisms through which cryptocurrencies may influence the country’s economic development. The findings indicate that the efficient integration of cryptocurrencies into the Ukrainian banking system requires the development of an appropriate regulatory framework aligned with international standards. Such a framework would enable banks to expand the range of financial services offered to customers while ensuring secure and efficient transactions involving digital assets. Particular attention is paid to examining the strength of the relationship between the world’s largest cryptocurrencies, which partially explains the volatility of cryptocurrency exchange rates. The practical significance of the research lies in the possibility of applying the obtained results to the formulation and implementation of the State’s monetary policy, as well as to the development of strategies for the digital transformation of the banking system and the implementation of managerial reforms.

Keywords: digital currency; cryptocurrency; volatility; exchange rate; cryptocurrency capitalization; banking system.

Fig.: 5. Tabl.: 5. Bibl.: 21.

Sus Lesia V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance and Credit, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]
Sus Yurii Yu. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance and Credit, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]
Storozhuk Ivanna A. – Student, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]

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