Two crypto exchanges, namely Binance and Whitebit, have reached out with a helping hand to Ukrainians who have had to leave their country because of the Russian invasion. Whitebit, a Ukrainian crypto exchange, has signed a memorandum of cooperation with Ukraine’s Ministry of Foreign Affairs.
The company wants to help those who left Ukraine to escape the Russian hostilities through its representative offices in foreign countries. Whitebit, in a blog post, highlighted its key areas of work as supporting the Anti-Crisis Centre of the Ministry of Foreign Affairs, as well as the 24-hour call center to provide consultations to the citizens of Ukraine. The crypto exchange will provide assistance to the consular service of Ukraine, and support the technical equipment of the Ministry of Foreign Affairs mobile groups. Moreover, Whitebit will facilitate the transition of foreign diplomatic institutions to barrier-free digital spaces. The company also stated that by expanding business in other countries, it scales up social projects essential for maintaining democracy and European values.
Binance, the largest coin trading platform, is also looking at launching a “charity crypto card” later this month. The funding for the crypto cards will be provided by the Binance Charity Foundation. Mykhailo Fedorov, Ukraine’s Minister of Digital Transformation, said this initiative is an important support for the citizens during the war. He highlighted that Binance continues to work with his department on cryptocurrency adoption and plans to support educational projects in the digital space. This is an effort to help Ukrainians acquire digital skills and new professional qualifications.
The minister revealed that Binance has already committed $10 million to Ukraine. It plans to increase the amount to $20 million in the near future.