Cryptocurrency

Ukraine Partners with FTX to Launch Crypto Donation Website

Ukraine Partners with FTX to Launch Crypto Donation Website

  • The Ukrainian government has announced the launch of a crypto donation website, in collaboration with FTX and Everstak
  • The website will be used by the country to raise funds for its ongoing defense against Russia
  • Ukraine plans to use the funds to support humanitarian aid programs and aid its Armed Force

Ukraine has launched a crypto donations website to raise funds for its ongoing defense against Russia. The website was launched with help from FTX crypto exchange and staking service, Everstake.

Ukraine

The initiative tagged “Aid for Ukraine” will allow the country to receive donations from other countries in the form of cryptocurrency. The donations will be converted by FTX from crypto to fiat and be sent to the fund-raising account of the National Bank of Ukraine, according to the website.

The collaboration with FTX marks the first instance that a cryptocurrency exchange will cooperate with a public entity to provide a conduit for crypto donations.

The donations received will be used to support the humanitarian aid programs and the Armed Forces of Ukraine.

A notice on the website reveals that donations are accepted in Bitcoin, Ether, Tether, Polkadot, Solana, Dogecoin, Monero, Icon, and neo N3.

Read also: Dogecoin Jumps as Elon Musk Maintains Support for Crypto

Although the website majorly encourages crypto donations, it presents an option that allows users to donate in fiat.

According to the website, more than $48 million have been raised by the country so far from donations and a target for $200 million has been set.

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