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Tuesday, June 18, 2024

Ukraine Government Now Accepts Over 70 Cryptocurrencies

process 70+ cryptos with the ability to convert them into any other crypto or fiat in real-time

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CoinGate, crypto payment processor and International Business Settlement (IBS) recently said it has begun an arrangement with the National Bank of Ukraine (NBU) that has seen the number of crypto assets well-wishers can donate to the country’s armed forces rise from just four to more than 70 crypto coins.

“We do what we do best. We have a platform that is able to process 70+ different cryptos with the ability to convert them into any other crypto or fiat in real-time.” – CoinGate head of product, Sarunas Matulevicius, said:

Another Coingate executive, Matas Kibildis, explaining how cryptocurrencies have now demonstrated their importance. He said:

The fact that any person or private company can easily do cross-border decentralized-system donations to countries facing conflicts is truly mesmerizing and one of the big reasons why the community is actively supporting Ukraine.

This widening of the list of accepted crypto assets comes just a few days after the Ukrainian government accepted to Polkadot creator Gavin Wood’s pleas to have DOT added to the list of cryptos accepted for donations. Wood immediately honored his pledge and donated DOT coins worth over $5 million.

All crypto donations will be converted into euros and IBS is tasked with approving and sending the payments to special donation accounts that have been set up by the central bank.

 

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