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Nearly 70,000 Issued Binance Refugee Crypto Card for Ukrainians

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Thousands of Ukrainians have ordered a crypto card issued by the world’s leading digital asset exchange Binance for their users in 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 of Efforts to Help Ukrainian Refugees

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Between April 26 and June 10, nearly 70,000 people received the Binance Refugee Crypto Card, the largest coin exchange by trading volume, featured by news outlet Forklog. The payment product was proposed in April to support Ukrainians forced to flee their homes due to Russia’s military invasion of the country.

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card allows displaced Binance users from Ukraine to make or receive cryptocurrency transfers and pay with merchants in the countries of the European Economic Area. However, refugees can also accept financial assistance through Binance partners. Applications of 4,000 Ukrainians currently living abroad have been approved, and more than 1,700 have already received funds.

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Binance is also participating in efforts to support internally displaced persons (IDPs) through a project launched in partnership with Palyanitsa Charities and Rotary Club Kyiv International. Families with many children and those with minor children, disabled people and elderly Ukrainians will receive priority.

These most vulnerable people will be able to count on a monthly assistance of 75 BUSD ($75) for three months, the report said. In the first phase, the initiative will help 5,000 IDPs with a budget of $1.2 million. The representatives of the exchange explained:

Initially, we were going to help people who were forced to enter the EU, received refugee status and really needed help. But in parallel, we decided to launch a pilot project to help those who remained in Ukraine.

Binance also announced that it is working closely with the Ministry of Digital Development of Ukraine 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 that it will continue to follow the sanctions policy towards Russia and ensure its implementation on its platform.

You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to the Binance Charity Ukraine Emergency Relief Fund.

How do you feel about the initiatives of the crypto industry in support of Ukrainians affected by the war? Share your thoughts in the comments section below.

Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, nor is it a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.



Credit : news.bitcoin.com

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