Binance, the world cryptocurrency and blockchain infrastructure provider has launched a refugee crypto card for all current and new users from Ukraine who were forced to flee their country because of the war with Russia.
Binance card was created in partnership with Conta. It will allow the displaced Ukrainians to make or receive cryptocurrency payments, as well as to buy from the retail outlets of the European economic zone, which 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.
Kyrylo Khomiakov,Binance General Manager in Ukraine,says refugee crypto card will allow people to receive help from Binance and other charitable organizations and, if necessary, accept cryptocurrency from any other wallets.
Within the program Binance Charitycooperates with various non-profit organizations, including Rotary and Palyanitsa to provide financial help in cryptocurrency through the refugee crypto card. This will allow relatives or acquaintances to transfer cryptocurrency to new cards and wallets for supporting people who left Ukraine.
Refugees who have been inspected by local non-profit organizations and applied for crypto-cards will receive 75 BUSD ($75 equivalent) per month for three months. This amount is recommended by the UN Agency for Refugees. BUSD cryptocurrency will be automatically converted to local currency when paying.
Opening and using the card is free. To get it, refugees must use an existing account registered in Ukraine or register a new Binance account using the Ukrainian home address. All users have to undergo KYC check that banks and other financial institutions commonly use.