The global crypto community has actively supported humanitarian efforts in Ukraine, and two cryptocurrency exchanges are also looking to assist Ukrainian refugees in other countries. Binance, the world’s largest cryptocurrency exchange, and Whitebit, the Ukrainian cryptocurrency exchange, have turned their attention to the Ukrainians forced to flee their country as a result of Russia’s invasion.
The world’s leading cryptocurrency exchange, Binance, will launch a “charity crypto card” this month for those who have been forced to leave Ukraine and need help, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov announced on Telegram, following a conversation with the company’s CEO Changpeng Zhao.
The government official stated, quoted by the crypto news outlet Forklog, “This is an important support for our citizens during the war.” He noted that the exchange continues to work with his department on cryptocurrency adoption and plans to support educational projects in the digital space to help more Ukrainians acquire digital skills and new professional qualifications.
Fedorov, who also serves as deputy prime minister in Kyiv, highlighted that the company has already committed $10 million to Ukraine and intends to increase the amount to $20 million in the near future. Crypto donations collected through Binance Charity finance the humanitarian initiatives of major intergovernmental and local non-government organizations.
Meanwhile, Ukrainian crypto exchange Whitebit has signed a memorandum of cooperation with the country’s Ministry of Foreign Affairs. The company recently said it can help people who left Ukraine to escape the ongoing hostilities through its representative offices in foreign countries and its technical and other resources. In recently published blog post, it stated:
We continue to work, establish cooperation with the state, and help Ukraine. By scaling up the business in other countries, we scale up social projects essential for maintaining democracy and European values.
Whitebit intends to provide assistance to Ukraine’s Consular Service in the countries where it maintains offices and facilitate “the transition of foreign diplomatic institutions to barrier-free digital spaces.” It also pledged support for the foreign ministry’s Anti-Crisis Center and a call center providing consultations to Ukrainians in need.
