Binance to launch Refugee Crypto Card for Ukrainians forced to leave Ukraine

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Apr 26, 2022, 04:00 ET

KYIV, Ukraine, April 26, 2022 /PRNewswire/ -- Binance, the world's leading cryptocurrency and blockchain infrastructure provider, has today launched the Binance Refugee Crypto Card for all current and new Binance users from Ukraine forced to move to EEA countries as a result of the war with Russia.

The Binance card has been created in partnership with Contis. It will allow displaced Ukrainians to make or receive crypto payments and complete purchases at retailers in the EEA who accept card payments.

"At such a difficult time for Ukraine, it's clear that cryptocurrencies are useful as they offer a fast, cheap and secure way of transferring funds to help people with their urgent financial needs," said Helen Hai, Head of Binance Charity.

Kirill Khomyakov, General Manager of Binance in Ukraine, said: "To date, some four million people have already left Ukraine. It is our responsibility to help people who have suffered from the war and were forced to leave their homes. The Binance Refugee Card will allow Ukrainians to get help from Binance and other charitable organizations, and, if necessary, receive cryptocurrency from any other wallets."

As part of the programme, Binance Charity is working with various non-profit organizations including Rotary and Palianytsia to provide crypto-based cash assistance through the Refugee Crypto Card that will allow relatives or acquaintances to transfer crypto to the new cards and Binance wallets to support their loved ones.

Refugees who are verified by local non-profit organizations and applied for the Binance Refugee Crypto Cards will receive 75 BUSD, equivalent value to US$75 per month for three months in line with recommended donation levels by UNHCR, the UN Refugee Agency. The BUSD cryptocurrency will be converted to local currency automatically during the card payment.

Getting and using a card is free. To obtain a Binance Refugee Crypto Card, refugees will need to use an existing account registered in Ukraine or register a new Binance account using a Ukrainian home address, even if currently living in another EEA country. All users will be required to complete full KYC verification.

Ms. Hai added: "We want to see blockchain working for people, solving real-world problems and using it as a tool to connect those who want to help, directly with those in need of it. We will continue to develop initiatives and partnerships to help the Ukrainian people and continue to develop crypto and blockchain tools to help aid those suffering from conflicts elsewhere in the world."

The move is part of Binance's continued support program for Ukrainians affected by the war. Previously, Binance has allocated 10 million USD through Binance Charity to support displaced children and families in Ukraine and its neighboring countries. This includes providing shelter, food, safe drinking water, medical supplies, cash assistance and psychological support to those who have been forced to take refuge. Binance Charity is also focusing efforts on working with organizations in-country to support civilians who have not been able to leave, and face an even greater threat of danger.

In addition, Binance Charity created a cryptocurrency crowdfunding site "Emergency Assistance Fund for Ukraine'' so that people from all over the world could donate cryptocurrency to support Ukraine. It has already raised about $1M.

About Binance

Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com

For more information about Binance Refugee Crypto Card, visit: https://www.binance.com/uk-UA/cards/

About Binance Charity

Binance Charity is a non-profit organization dedicated to the advancement of blockchain-enabled philanthropy towards achieving global sustainable development. Binance Charity aims to transfer philanthropy by developing a 100% transparent donation platform based on blockchain to build a future where technology innovation is used to end all forms of poverty and inequality, advance sustainable development and ensure that no one is left behind. To date, BCF has supported over 2 million end beneficiaries through various projects.

For more information, visit: https://www.binance.charity/

SOURCE Binance