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Binance Deploys Crypto Card for Ukrainian Refugees

Quick take:

  • Binance has launched a refugee crypto card that allows refugees from Ukraine to receive funds and make crypto transactions.
  • The initiative is a sign of support from Binance for the refugees.

The battle between Ukraine and Russia drew the entire world together to support the country. In this battle, crypto was widely used, and the rising use of these assets prompted Ukraine to make them lawful.

Binance has been regarded as simplifying the process for Ukrainians seeking asylum in other countries. A crypto card has been developed by the cryptocurrency exchange for migrants who have been forced to migrate.

Binance crypto card

The card was designed in partnership with Contis, according to the exchange. Displaced Ukrainians would also be able to conduct purchases in the European Economic Area (EEA) using this card.

Four million Ukrainians have fled their homes and sought refuge in neighboring nations. As a response, Binance plans to assist these migrants by providing financial assistance in the form of Binance USD [BUSD]. Every month for the next three months, all card recipients who received a green signal from local non-profit groups would be granted 75 BUSD.

The process of obtaining a crypto card is completely free. Users must make use of their pre-existing accounts. Those who do not have an account must provide their Ukrainian home address, even if they reside in another nation. After that, a KYC verification step would be required.

Furthermore, refugees can use this card to request assistance from Binance and other humanitarian groups. Other wallets can transfer cryptocurrency to the refugees as well.

The information provided on DecentReviews does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Do not treat any of the websites content as such. DecentReviews does not recommend that any cryptocurrency or blockchain asset should be bought, sold, or held by you. Conduct your own due diligence and consult your financial advisor before making any investment decisions.

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