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Ukraine launches website for cryptocurrency donations

The "Aid for Ukraine" website in partnership with crypto-firms FTX and Everstake will funnel donations to Ukraine's central bank, and can accept donations in 10 cryptocurrencies, including Bitcoin, ether, tether and dogecoin

By AFP
Published: Mar 15, 2022 01:39:56 PM IST
Updated: Mar 15, 2022 02:00:39 PM IST

Ukraine launches website for cryptocurrency donationsCryptocurrency assets have proven to be extremely valuable in facilitating the flow of funding to Ukrainian citizens and soldiers. (Credit: Shutterstock)


San Francisco, United States: The Ukrainian government on Monday launched a website in partnership with crypto-firms FTX and Everstake that will funnel donations to Ukraine's central bank as it combats a devastating invasion by Russia.

On the "Aid for Ukraine" website, users can currently offer donations in 10 cryptocurrencies, including Bitcoin, ether, tether and dogecoin.

"Cryptocurrencies play a significant role in Ukraine's defense," Oleksandre Borniakov, Ukraine's deputy minister of Digital Transformation, said in a statement.

"Cryptocurrency assets have proven to be extremely valuable in facilitating the flow of funding to Ukrainian citizens and soldiers and in raising awareness and interest among the global public," he added.

The crypto firm Everstake, one of the largest in Ukraine, will allow users be able to make donations in other cryptocurrencies than those listed on the site.

The site also plans to add the ability to donate non-fungible tokens (NFTs) in the future.

Bahamas-based exchange platform FTX, founded by US billionaire Sam Bankman-Fried, will convert the donated funds into dollars and route them to the National Bank of Ukraine.

The Ukrainian cryptocurrency exchange platform Kuna is also part of the initiative.

On the "Aid for Ukraine" site, a tracker showed that by 0230 GMT Tuesday, almost $49 million had been raised out of a goal of $200 million.

The money will be used to support the Ukrainian military as well as civilians "in dire need of humanitarian assistance," the partnership said in the statement.

© Agence France-Presse

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