Binance reported on its initiatives to help Ukrainian residents affected by the war.
Binance representatives said that from April 26 to June 10, almost 70,000 people issued a cryptocurrency Binance Refugee Card.
To receive financial support through it, users must contact non-profit partner organizations of the exchange. Applications of 4,000 Ukrainians abroad have already been approved, and over 1,700 refugees have received funds.
In addition, together with the charitable foundations Palianytsia and Rotary Club Kyiv International, we launched a project of financial support for HPE in Ukraine.
First of all, unprotected groups of displaced persons - large families or parents of minor children, people with disabilities, or elderly residents of the country will be able to receive assistance in the amount of 75 BUSD monthly for three months.
The Palianytsia team provides support in withdrawing funds to a bank card from a crypto wallet for those who do not know how to do this. For offline help, you can contact Palianytsia representatives in Lviv or Rotary Club Kyiv International in Kyiv.
In the first stage, the initiative will cover 5,000 HPEs, and $1.2 million will be allocated for its implementation.
“Initially, we were going to help people who were forced into the EU, received refugee status, and really need help. But in parallel, we decided to launch a pilot project to help those who remained in Ukraine,” Binance representatives said. The exchange team also announced close cooperation with the Ministry of Digital Development of Ukraine, within the framework of which a course on online professions for Ukrainians who lost their jobs due to the war will be launched in June. Binance stressed that they are going to continue to follow the sanctions policy and monitor its implementation on the platform.
Recall that at the beginning of the war, the stock exchange announced that it would allocate $10 million to resolve the humanitarian crisis in Ukraine.
In April, the company announced the launch of the Binance Refugee Card for current and new users from Ukraine forced to move to Europe due to the Russian invasion.