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Thursday, April 18, 2024

Ukraine Launches Official Website for Cryptocurrency Donations

Ukraine has spent $15 million in donated cryptocurrency on military supplies

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The Ministry of Digital Transformation of Ukraine announced Monday that it has launched the official “Aid For Ukraine” website in partnership with staking service provider Everstake and cryptocurrency exchange FTX to raise funds in support of the Ukrainian armed forces and humanitarian aid programs in the fight against Russia.

The vice prime minister of Ukraine, Mykhailo Fedorov confirmed on twitter and said that the official website where anyone around the world can make cryptocurrency donations to Ukraine has gone live.

Aid for Ukraine,” which has the backing of crypto exchange FTX, staking platform Everstake and Ukraine’s Kuna exchange, will route donated crypto to the National Bank of Ukraine, Everstake’s Head of Growth Vlad Likhuta told CoinDesk.

Ukraine accept many cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Solana (SOL), Monero (XMR) and using memecoin Dogecoin (DOGE). Doners can also donate fiat money to the government official Bank account. The Ukrainian government also accepts fiat donations in USD, EUR, GBP, AUD, and CAD.

Raised Funds will be spent on military equipment as well as “informational counteraction to Russian propaganda” and a “global communication campaign on true events in Ukraine.”

The funds will also be used in “cybersecurity and digital infrastructure recovery, providing additional protection and migration of registers, and the purchase of technical special equipment and facilities,” Ukraine’s Ministry of Digital Transformation said.

“Crypto assets proved extremely helpful in facilitation of funding flows to Ukrainian citizens and soldiers, as well as in raising awareness and engaging people worldwide,” Oleksandr Bornyakov, an official at the digital ministry, said in a statement.

Earlier this month, Alex Bornyakov, Ukraine’s deputy minister of digital transformation, revealed that his government has spent $15 million in donated cryptocurrency on military supplies, including bulletproof vests.


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