Ukraine's Ministry of Digital Transformation launches crypto fundraising site

Tuesday 15 March 2022 12:55 CET | News

The official website for Aid For Ukraine, an initiative that raises funds from the crypto community for the benefit of Ukraine’s military and humanitarian needs, has launched.

The initiative is powered by the Ministry of Digital Transformation of Ukraine, FTX, and Everstake. This is one of the first instances of a cryptocurrency exchange providing a conduit for crypto donations to a public financial institution.

The launch of an official website enables users from around the world to make cryptocurrency donations to Ukraine. Anyone is now able to select the desirable amount in selected cryptocurrencies to donate, connect a wallet, and confirm a transaction within the same interface.

The fundraising process will be traceable in real-time on the website. The overall amount of donations will be summed up and tentatively expressed in USD at the Coingecko rate.

The website also makes it possible to add more cryptocurrencies to the initiative thanks to the involvement of Everstake, a decentralized staking provider of the industry.

So far, users can donate to the existing wallets of the Ministry of Digital Transformation in BTC, ETH, USDT (TRC-20), DOT, SOL, DOGE, and XMR. The initiative has also added ICX, EOS, and NEO. Aid For Ukraine will add other cryptocurrencies over time.

Aid For Ukraine is cooperating with the cryptocurrency exchange FTX which converts crypto funds received into fiat and sends the donations to the National Bank of Ukraine.

The funds will be used to help the Armed Forces of Ukraine as well as Ukrainian civilians in dire need of humanitarian aid.

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Keywords: Russia Ukraine War, cryptocurrency, funding, product launch, cryptocurrency exchange
Categories: DeFi & Crypto & Web3
Countries: Ukraine
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DeFi & Crypto & Web3

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