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    The cryptocurrency exchange Binance has announced a crypto card for Ukrainian refugees

    The card will allow displaced Ukrainians to send and receive cryptocurrency payments as well as conduct transactions at European Economic Area shops.

    Binance, a global cryptocurrency exchange, has introduced a crypto card that allows Ukrainian refugees to conduct crypto transactions and receive payments using the Binance Visa Card.

    Binance announced that it is collaborating with several organisations, including Contis, a European banking-as-a-service platform, and Rotary and Palianytsia, to provide refugees affected by the Ukrainian conflict with a way to send and receive funds and make purchases within the European Economic Area (EEA).

    Beneficiaries of the card who are validated by their local charitable organisations will get financial support from Binance in the form of Binance USD in addition to access to crypto transactions (BUSD). These users will get 75 BUSD each month for three months, which is the suggested donation level by the UN High Commissioner for Refugees (UNHCR).

    Because the card is not a “commercial product,” Helen Hai, the CEO of Binance Charity, told Cointelegraph. Its primary goal is to create a useful payment mechanism for receiving and spending gifts. This, according to Hai, is a crucial method for the rest of the world to realise how crypto may benefit society.

    “The entire world can see the significant role that bitcoin plays and how it alters our reality.” Cryptocurrency is important in generating critical cash and delivering much-needed humanitarian aid to Ukraine.”

    This, according to Hai, is an excellent illustration of how crypto may be utilised not just for transactions but also for payment. Crypto, according to Hai, has “no borders, constraints, does not require documentation or other difficult and lengthy bureaucratic procedures, and may produce results right now.”

    Vitalik Buterin contributed $5 million in Ether (ETH) towards Ukrainian relief earlier this month. While making the gifts, the Ethereum creator made no public statements. It was discovered two days later, though, and attracted widespread notice on social media.

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