The Second International Scientific Conference "Money & Banking: The History and Future of Money" was held at the National Bank of Ukraine on 18–19 September 2025, as part of the events for Hryvnia Day.
The conference’s goal was to bring together scholars and researchers to study lesser-known aspects of the history of money and discuss the challenges and trends in modern banknote and coin design.
It served as a platform for dialogue among foreign and Ukrainian experts in the history of money circulation, economic history, numismatics, banking history, art history, linguistics, and archaeology. Approximately 70 researchers from Ukraine and Europe participated, including representatives from the European Central Bank and the central banks of Germany, Belgium, Poland, Latvia, Lithuania, and Estonia, as well as academics from Poland, Germany, Romania, and Moldova.
In his opening remarks, Deputy Governor of the National Bank of Ukraine, Oleksii Shaban noted, "Today’s world of money is a combination of deep meaning and cutting-edge technologies. A clear example of this is the hryvnia, which turned 29 this year. When we hold a banknote, we see not just paper, but the symbols and history of our nation. The future of money goes far beyond banknotes and coins. Digital technologies are opening a new era, and more and more countries, including Ukraine, are working on central bank digital currencies. This is the next step that will combine symbolism and innovation."
The event’s program included four thematic sections:
- The History of Banks and Banking
- Design and Protection of Money
- The Future of Money and
- Numismatics and the History of Monetary Circulation.
On the first day, participants heard from representatives of the European Central Bank and the central banks of other European countries. Representatives from the National Bank of Belgium presented their vision for the future design of the euro and its security features. The second thematic block focused on money as a carrier of identity and cultural diplomacy. Topics ranged from the creation of the "Glory to Ukraine" commemorative coin by the Central Bank of Estonia and the use of national motifs in euro design, to the role of princely portraits on the hryvnia and the historical significance of the shah coins in Ukrainian monetary circulation. Ukrainian scholars also shared their research on the history of the name for the shah coin in Ukraine. The plenary session concluded with a block on the philosophy and innovation in the world of money, featuring presentations from Deutsche Bundesbank and the Bank of Lithuania on the metamorphosis of money and innovative forms and technologies in coin design. The afternoon included sectional meetings on the history of banks and banking and modern approaches to the design and protection of money. Researchers presented new archival and numismatic discoveries and discussed symbolism and innovation in the design of money in Ukraine and Europe.
The second day of the conference focused on discussing the future of money and in-depth numismatic research. In the "Future of Money" section, scholars debated the logic of the evolution and history of money, global trends in modern banknote and coin design, new approaches by mints to design and technology, and the challenges of the digital age. They also discussed the future of money, the preservation of cultural heritage, and the linguistic aspects of modern currency names. Participants also focused on the participation and wins of Ukrainian commemorative coins and banknotes in international competitions.
Within the Numismatics and the History of Monetary Circulation section, scholars presented research covering a wide range of historical periods – from antiquity and the Middle Ages to the Grand Duchy of Lithuania, the Cossack Hetmanate, and Ukrainian lands as part of Austria-Hungary. Discussions also touched on unique aspects of numismatics, including siege coins, private metal tokens, and dukachi as elements of folk culture. The section ended with a lively discussion about restoring the collection of the Mykola Sumtsov Kherson Historical Museum, specifically its numismatic collection, after the theft of museum artifacts and inventory documents during the russian occupation.
Leading Ukrainian scientists made a significant contribution to the unexplored pages of the history of monetary circulation in antiquity. They uncovered potentially unknown minting centers, expanded understanding of the circulation areas of certain types of coins, and explored the specifics of the circulation of ancient coins in Ukraine.
The study of the authenticity of ancient money was also a topic of attention. A group of researchers presented the results of their study on Kyiv Rus hryvnias, based on data obtained using precise modern measuring devices.
During this year’s meeting, scholars focused primarily on the study of coins of Ukrainian mintage, as well as the specifics of hoard formation and the circulation of foreign coins in Ukraine. Materials of an ethnographic nature received special attention. For the first time, participants learned about research on the ways coins were worn in traditional Ukrainian folk costumes and new facts about the prevalence of a dukach, a traditional Ukrainian coin-based necklace.
Seven presenters with PhDs spoke at the conference, as did 12 Doctors of Sciences in economics, and historical, technical, geological and mineralogical sciences, nine of whom hold the title of professor.
The online broadcast was watched by over 2,000 viewers.
The "Money & Banking" conference, which the NBU has organized for the second consecutive year, has become a great tradition. The organizers are inviting scholars to new discussions next year to continue exploring the past and future of money together.