The crypto exchange exchange Binance has just announced the launch of crypto cards for Ukrainian refugees who have been forced to relocate to European countries following the ongoing war in several Ukrainian regions.
The crypto card will allow both existing and new Binance users to accept crypto payments and make payments in the European Economic Area (EEA) that accepts the features.
In a press release on April 26, Binance announced the introduction of Crypto Cards to Ukrainian refugees realized in collaboration with the company Contis which is a platform of banking services. The offer is an initiative that facilitates the flight of Ukrainians to buy goods using cryptocurrency in crypto -friendly retail stores. These cards are available in both virtual and physical formats.
Helei Hai, who is the chairman of Binance Charity believes that cryptocurrency is very useful in difficult times as it allows users to transfer funds in a fast, cheap and secure time. Not only that, it also helps people who need urgent financial needs.
Kirill Khomyakov, General Manager of Binance in Ukraine, said the situation in Ukraine is critical as more than 4 million people have left the country. Ukrainians fleeing to Europe are facing financial problems.
He further said, it was Binance's responsibility to help the people affected by the war. Not only that, the Binance Refugee Card will allow Ukrainians to seek assistance from Binance as well as other charitable organizations.
At the same time, Binance Charity is also working with NGOs such as Rotary and Palianytsia to offer crypto -based cash assistance through Refugee Crypto Cards. It allows Ukrainian relatives or acquaintances who moved to Europe to send crypto to the card.
Ukrainian refugees will receive 75 BUSD, worth almost US $ 75, a month for three months. The BUSD cryptocurrency will be automatically converted to the local currency upon payment. Binance Breakout Crypto Card is free but full KYC verification is still required.
Binance Crypto Exchange also promised continued support to Ukraine during the war. Through the Binance Charity, Binance has donated $ 10 million to help homeless children and families in Ukraine and neighboring countries.
