Binance Refugee Crypto Card can help millions of Ukrainians who have fled their country due to the Russia-Ukraine war.
Binance Refugee has launched its new feature called Crypto Card. this app, It is designed for the use of both the Ukrainian people who are victims of the war and their own users.
Binance Keeps Aiding Ukrainians
Following the start of the Russia-Ukraine war, Binance donated $10 million to UNICEF, the UN Refugee Agency, UNHCR and more to help with the crisis.
A month later, it donated $2.5 million worth of digital assets to Ukrainian children and families.
Binance’s latest relief efforts to Ukraine is the Refugee Crypto card. It partnered with European financial services provider Contis to promote the project.
Binance Refugee Card will allow victimized Ukrainians to make or receive digital asset payments.
Kirill Khomyakov, Managing Director of Binance Ukraine, stated that nearly four million people have left their homes in Ukraine due to the war.
“The Binance Refugee Card will allow Ukrainians to get help from Binance and other charities and receive cryptocurrency from any other wallet if needed,” he said.
Ukrainian victims applying for the card will receive 75 BUSD ($75) for 3 months. The people who will receive the card will be determined by the local institutions. The BUSD token will be converted to the local currency during the transaction.
Binance Refugee Crypto Card is free. Refugees must use an account registered in their home country or log in to the platform using a home address in Ukraine, even if they have moved abroad. KYC verification will also be required.
Helen Hai, Head of Binance Charity, said:
We want to see blockchain work for people, solving real-world problems, and using it as a tool to connect those who want to help directly with those in need. We will continue to develop initiatives and partnerships to help the people of Ukraine and develop crypto and blockchain tools to help those suffering from conflicts elsewhere in the world.
Binance and its Stance Towards Russians
Even though Binance is with Ukraine For Russian users their services He said he wouldn’t stop.
Binance updated its policy last week. imposed certain restrictions on Russian customers with more than 10,000 EUR in their account.
Binance stated that these users can only transact after verifying the proof of address.