The initiative is called “Aid for Ukraine”. The Ukrainian government launched, Monday, March 14, a site in partnership with the FTX and Everstake cryptocurrency platforms to route to the Ukrainian central bank the bitcoins and other virtual currencies raised to support Ukraine against the Russian invasion.
The money will be used to support military troops as well as civilians “in dire need of humanitarian aid”underline the members of the partnership in a press release.
Internet users can currently make donations in 10 cryptocurrencies, including bitcoin but also ether, tether or dogecoin. The site states that just over $49 million (€44,616,460) ont been raised since the start of the conflict and has a target of 200 million dollars (182,108,000 euros).
“A significant role in the defense of Ukraine”
“Cryptocurrencies play a significant role in the defense of Ukraine”said Oleksandre Borniakov, the Ukrainian Deputy Minister of Digital Transformation, quoted in a press release. “Cryptocurrency assets have proven to be extremely valuable in facilitating the flow of funding to Ukrainian citizens and soldiers and in raising awareness and interest among global public opinion”he added.
Thanks to Everstake, one of the main players in the crypto-asset industry in Ukraine, donors who wish to do so can make donations in other cryptocurrencies than those listed on the site. The addition of non-fungible tokens (NFT), these certificates of authenticity of a digital object, is also planned.
For its part, the exchange platform FTX, based in the Bahamas and founded by the American billionaire Sam Bankman-Fried, undertakes to convert the funds into dollars and to route them to the National Bank of Ukraine.
