The government of Ukraine has officially launched a website to raise funds assisting their armed forces and humanitarian relief programs through cryptocurrencies. The Russian invasion has taken a gravy toll claiming countless lives and mass destruction. The website has been built in a partnership between Ukraine’s Ministry of Digital Transformation, Everstake, and an international digital assets exchange.
A Government Website for Crypto Donation
The Ukrainian Digital Transformation Ministry announced the website news on Monday. Labeled officially as “Aid For Ukraine”, the pilot project website is built with the objective of raising donations to prepare Ukrainians to defend their homeland against the mighty Russian invasion led by Vladimir Putin. The platform for crypto donations is designed in collaboration with Everstake, a staking service provider, and FTX, a global crypto exchange.
The Working Process
The newly-launched government website marks the first time a private crypto exchange is collaborating with a ruling national body, offering relief and aid services to the people in distress. The digital assets exchange converts crypto donations in Fiat denominations are which are then transferred to the National Bank of Ukraine.
As per the website declaration, “This marks the first-ever instance of a cryptocurrency exchange directly cooperating with a public financial entity to provide a conduit for crypto donations.”
Accepted Cryptos and Fiat Donations
The aforementioned Aid for Ukraine webpage cites multiple crypto wallet addresses in addition to details of bank account particulars for the donation. The Ukrainian government is accepting multiple cryptocurrencies. The most popular ones include Bitcoin, Ethereum, Tether, Polkadot, Solana, Dogecoin, and Monero. Denominations in fiat currencies are also welcome. Currently, USD, CAD, AUD, EUR, and GBP are welcome.
Crypto Donations Across the World
The global crypto community has been strongly supportive of sending donations from all corners of the world. The Ukrainian government acknowledged receiving over $52 million worth of crypto donations. An estimated $34 million of the aforementioned valuation were in BTC, ETH, Polkadot, and TRON. In addition to crypto donations, multiple DAOs have been built for crypto donations. Proceeds from the sales of some of the costliest NFTs in existence have been donated for Ukrainian war relief.
Throughout history, war has brought about nothing but devastation. The global crypto community is showing a united front, standing up for humanitarian and just causes for the people of Ukraine braving through the horrors of war.