Ukraine’s New Fundraising Platform Accepts Crypto, Allows Donors to Allocate Funds – Following Russia’s invasion, Ukraine has become increasingly reliant on foreign donations to assist its defense efforts and overcome humanitarian challenges. Now, those who want to help can use an integrated platform that streamlines the process and distributes financial aid according to the donor’s wishes.
According to its website, President Volodymyr Zelenskyy established United24 as the primary platform for collecting charity donations in support of Ukraine. The global project was unveiled last week by Ukraine’s president, with his government stating that the purpose is to bring people from all over the world together in their desire to aid the country.
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According to a news release, United24 seeks to boost the amount of donations to the Eastern European country while also ensuring the efficiency and openness of their distribution. The idea allows everyone to join forces to support Ukraine and provide actual help to Ukrainians who are suffering as a result of the conflict.
Zelenskyy elaborated on the following:
“From any country, anyone can make a one-click donation; Individual people, entrepreneurs, and huge technology corporations.”
Donors can choose from a variety of payment options. Traditional methods such as credit card, bank wire, and Paypal are among them. Whitepay, a provider of a point-of-sale (POS) solution for cryptocurrency payments, allows members of the crypto community to send funds in a variety of coins ranging from BTC and BCH to USDT and DOGE.
Ukraine has already received millions of dollars in cryptocurrency donations, and the Ukrainian government opened a website named ‘Aid For Ukraine’ in March for individuals wishing to give digital currencies. It was declared after media reports revealed an increase in ‘Help Ukraine’ crypto frauds.
The funds will be split between three categories: defense and demining, humanitarian and medical support, and Ukraine reconstruction. When people and organizations click the ‘Make a donation’ button, they are given the choice to choose one of these options.
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The cash will be put in accounts at the National Bank of Ukraine designated for the Ministries of Defense, Healthcare, and Infrastructure, which will use the funds to meet the most immediate requirements. Every week, they will report on the allocation of the donations.
The effort will be overseen by Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov. Deloitte Ukraine, a consulting and auditing firm that is part of the Deloitte international network, will evaluate the ministries’ quarterly reports.
