Bitcoin exchange Binance 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. This was reported to ForkLog UA by the company.



Cardholders will be able to make or receive crypto-currency payments and make purchases in the countries of the European Economic Area.

The Binance Refugee Card will allow Ukrainians to receive assistance from Binance and other charitable organizations, said Kirill Khomyakov, general manager of Binance in Ukraine.

Refugees who contact local non-profit organizations and apply for the Binance Refugee Card will be able to receive 75 BUSD per month for three months. Cryptocurrency will be automatically converted to local currency when paying by card.

To receive the Binance Refugee Card, exchange customers can use an existing account registered in Ukraine or create a new account using their home address in Ukraine, even if they currently reside in another European country. All users must complete a full KYC check.

Recall that since the beginning of the war, Binance announced the allocation of $10 million to resolve the humanitarian crisis in Ukraine , and the Binance Charity initiative launched a fundraiser to help Ukrainian refugees and children.

The latter also announced a partnership with the Palianytsia Foundation , in which it donated $500,000 for humanitarian aid to Ukraine.

Earlier, the head of the Ministry of Digital Development Mikhail Fedorov spoke about the plans to launch a Binance cryptocurrency card for Ukrainian refugees .