Binance will launch a charity cryptocurrency card for Ukrainian citizens fleeing conflict. Binance is therefore leading the way for other crypto exchange platforms like Tycoon and Coinbase.
Binance, the world’s leading cryptocurrency exchange, will launch a “charity crypto card” this month for those forced to flee Ukraine and in need of assistance, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov announced on Telegram after speaking with the company’s CEO Changpeng Zhao.
“This is an important support for our citizens during the war,” a government official said, according to the cryptocurrency news outlet Forklog. He stated that the exchange is still working with his department on cryptocurrency adoption and that it plans to support educational projects in the digital space to help more Ukrainians gain digital skills and new professional qualifications.
Fedorov, who is also the deputy prime minister of Ukraine, stated that the company has already committed $10 million to Ukraine and plans to increase the amount to $20 million in the near future. Binance Charity collects cryptocurrency donations to support the humanitarian efforts of major intergovernmental and local non-governmental organizations.
Meanwhile, the Ukrainian cryptocurrency exchange Whitebit has signed a cooperation agreement with the country’s Ministry of Foreign Affairs. The company recently stated that it can assist people who have fled Ukraine in escaping the ongoing hostilities through its foreign representative offices and technical and other resources. According to a recently published blog post:
Whitebit plans to help Ukraine’s Consular Service in the countries where it has offices, as well as to facilitate “the transition of foreign diplomatic institutions to barrier-free digital spaces.” It also promised to support the Foreign Ministry’s Anti-Crisis Center and a call center that provides consultations to Ukrainians in need.