Skip to main content

Nearly 70,000 Issued Binance Refugee Crypto Card for Ukrainians

Nearly 70,000 Issued Binance Refugee Crypto Card for Ukrainians

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. The card allows people displaced by the ongoing conflict with Russia to make payments and receive financial support.

Binance Announces Results From Efforts to Help Ukrainian Refugees

Between April 26 and June 10, almost 70,000 people have been issued the Binance Refugee Crypto Card, the largest coin exchange by trading volume unveiled to the crypto news outlet Forklog. The payment product was offered in April to support Ukrainians forced to leave their homes amid Russia’s military invasion of the country.

The card allows displaced Binance users from Ukraine to make or receive crypto transfers and pay at merchants in countries from the European Economic Area. With it, the refugees can also accept financial aid through Binance’s partners. The applications of 4,000 Ukrainians currently residing abroad have been approved with more than 1,700 already having received funds.

Binance also participates in efforts to support internally displaced persons (IDPs) as part of a project launched together with the charitable foundations Palianytsia and Rotary Club Kyiv International. Large families and those with minor children, disabled, and elderly Ukrainians will benefit with priority.

These most vulnerable people will be able to rely on a monthly assistance in the amount of 75 BUSD ($75) for a period of three months, the report details. At its first stage, the initiative will help 5,000 IDPs with a budget of $1.2 million. Representatives of the exchange explained:

Initially, we were going to help people who were forced into the EU, were granted refugee status and really needed help. But in parallel, we decided to launch a pilot project to help those who 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. The exchange also emphasized it will continue to follow sanctions policies against Russia and ensure their implementation 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? Share your thoughts in the comments section below.



from Bitcoin News https://ift.tt/wpVFAsn
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more