- April 14, 2022
Binance and Whitebit, two cryptocurrency exchanges, have offered assistance to Ukrainian refugees.
The worldwide crypto community has actively supported humanitarian operations in Ukraine, and two cryptocurrency exchanges are also working to assist Ukrainian refugees in other countries. Binance, the world's largest cryptocurrency exchange, and Whitebit, the Ukrainian cryptocurrency exchange, have turned their focus to the Ukrainians forced to flee their nation as a result of Russia's invasion.
Binance is launching a charity cryptocurrency card for Ukrainians fleeing the conflict.
Following a conversation with Binance's CEO Changpeng Zhao, Ukraine's Minister of Digital Transformation Mykhailo Fedorov announced on Telegram that the world's leading cryptocurrency exchange will launch a "charity crypto card" this month for those who have been forced to leave Ukraine and require assistance.
"This is critical support for our folks during the battle," a government official said, according to Forklog, a crypto news outlet. He said the exchange is continuing to cooperate with his department on bitcoin adoption and wants to sponsor educational projects in the digital space to enable more Ukrainians gain digital skills and new professional credentials.
Fedorov, who is also the deputy prime minister of Kyiv, stated that the corporation has already committed $10 million to Ukraine and plans to expand that sum to $20 million soon. Binance Charity collects cryptocurrency donations to support large intergovernmental and local non-governmental organisations' humanitarian efforts.
The Ukrainian Foreign Ministry will receive assistance from Whitebit.
Meanwhile, Whitebit, a Ukrainian cryptocurrency exchange, has inked a memorandum of understanding with Ukraine's Ministry of Foreign Affairs. The corporation recently stated that its representative offices in other countries, as well as its technical and other resources, can assist persons who have fled Ukraine to flee the ongoing conflicts. It was recently noted in a blog post:
We will continue to work, form partnerships with the government, and assist Ukraine. By expanding our business in other countries, we are able to expand social projects that are critical to the preservation of democracy and European ideals.
Whitebit plans to help Ukraine's Consular Service in the countries where it has offices by assisting "the transformation of foreign diplomatic institutions to barrier-free digital environments." It also promised to help the Foreign Ministry's Anti-Crisis Line as well as a phone centre that provides assistance to Ukrainians in need.