Thousands of Ukrainians have ordered a crypto card issued by the world’s leading digital asset exchange, Binance, for its users from the war-torn country. People displaced in the ongoing war with Russia can use this card to pay their bills and get financial aid.
Binance Announces the Results of Efforts To Help Ukrainian Refugees
Nearly 70,000 individuals have received the Binance Refugee Crypto Card between April 26th and June 10th. This card is the biggest coin exchange in terms of trading volume, according to Forklog. The payment product was offered in April to support Ukrainians forced to leave their homes amid Russia’s military invasion of the country.
It allows Binance users displaced in Ukraine to use the card to pay for crypto transactions and make payments at European Economic Area merchants. With it, the refugees can also accept financial aid through Binance’s partners. More than 1 700 Ukrainians have already received financial aid, and the application of more then 4,000 Ukrainians living abroad has been accepted.
Binance participates also in the support of internally displaced persons (IDPs), in a joint project with Palianytsia Charitable Foundations and Rotary Club Kiv International. With priority, large families with children and disabled people, as well as elderly Ukrainians, will receive the benefits.
The report describes that the most vulnerable will be able receive monthly support in the amount 75 USD ($75) over a three-month period. With a $1.2million budget, this initiative will assist 5,000 IDPs at its first phase. Representatives from the exchange described:
We initially planned to assist people forced into EU and granted refugee status who really needed our help. We also decided to start a pilot project in order to aid those who have remained in Ukraine.
Binance further revealed it’s closely cooperating with the Ukrainian Ministry of Digital Development to organize a course on online professions for Ukrainians who lost their jobs due to the war as early as this month. Additionally, the exchange stated it will adhere to sanctions policies against Russia as well as ensure that they are implemented on its platform.
You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund.
What’s your opinion about the initiatives of the crypto industry in support of Ukrainians suffering from the war? Comment below to share your views.
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