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The card will allow displaced Ukrainians to send and receive cryptocurrency payments and make purchases at businesses in the European Economic Area.

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 many organizations, including European banking-as-a-service platform Contis and nonprofit organizations 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 their local nonprofit organizations validate will get financial support from Binance in the form of Binance USD and access to crypto transactions (BUSD). These users will get 75 BUSD each month for three months, which is the UN High Commissioner for Refugees (UNHCR) suggested donation level.

According to Helen Hai, Head of Binance Charity, the card’s main goal is to provide a functioning payment instrument to collect and spend gifts because it is not a “commercial product.” This, according to Hai, is a crucial method for the rest of the world to realize how crypto may benefit society.

“The whole world is able to observe the important role which cryptocurrency plays, and how it transforms our reality. It is cryptocurrency that plays a key role in raising vital funds and providing much-needed humanitarian assistance to Ukraine.”

Hai also mentioned that this is a fantastic illustration of how crypto can be utilized for transactions and payments. Hai regards crypto as a tool with no borders or constraints do not require documentation and other difficult and lengthy bureaucratic procedures and is capable of generating results right now.

Vitalik Buterin contributed $5 million in Ether (ETH) to Ukrainian relief. As he made the gifts, the Ethereum creator made no public announcements. However, it was discovered two days later and garnered notice on social media.

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