Binance launches crypto card that provides support for Ukranian refugees

Binance has announced the launch of a crypto card that is specifically targeted at refugees who have fled Ukraine, and will enable them to receive funds via the Binance Visa Card.

The Binance Visa card is available to EEA residents and Ukrainian refugees in EEA countries, and allows recipients of the card to  access financial support in the form of Binance USD (BUSD). 

Individuals who are verified by local non-profit organizations will be able to receive the financial support of 75 BUSD per month for three consecutive months, which is the donation amount recommended by the United Nations High Commissioner for Refugees (UNHCR).

The Binance card was created in partnership with banking-as-a-service platform Contis. 

In a press release, Helen Hai, Head of Binance Charity noted:

"At such a difficult time for Ukraine, it's clear that cryptocurrencies are useful as they offer a fast, cheap and secure way of transferring funds to help people with their urgent financial needs,"

She added:

"We want to see blockchain working for people, solving real-world problems and using it as a tool to connect those who want to help, directly with those in need of it. We will continue to develop initiatives and partnerships to help the Ukrainian people and continue to develop crypto and blockchain tools to help aid those suffering from conflicts elsewhere in the world."

Kirill Khomyakov, General Manager of Binance in Ukraine, further noted:

 "To date, some four million people have already left Ukraine. It is our responsibility to help people who have suffered from the war and were forced to leave their homes. The Binance Refugee Card will allow Ukrainians to get help from Binance and other charitable organizations, and, if necessary, receive cryptocurrency from any other wallets."

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.