Binance has partnered with European banking service provider Contis to launch a crypto card for Ukrainian refugees, enabling crypto payments in the European Economic Area for those displaced by the war.
See related article: Russians turn to crypto as Western sanctions hit the ruble
Fast facts
- Kirill Khomyakov, Binance’s Ukraine general manager, said the crypto card will allow Ukrainians to receive aid from Binance and other charity organizations.
- The Binance Refugee Crypto Card can facilitate transfers from other crypto wallets “when necessary,” Khomyakov added.
- Refugee card owners verified by Ukrainian non-profits will receive monthly donations worth US$75 in BUSD stablecoin for three months, which will be converted to local currencies during payment transactions, Binance said.
- Binance last week placed limits on its Russian services in response to a fifth wave of restrictive measures from the European Union.
- Binance has received harsh criticism from the public for allegedly sharing user data with Russian regulators and institutions, which Binance denied.
See related article: No love for Putin. Binance denies sharing data with Russia