Ukraine Crypto Donations – Coingate and International Business Settlement (IBS) have announced a partnership with the National Bank of Ukraine (NBU) that will allow well-wishers to donate to Ukraine using more than 70 different crypto assets.
Coingate, a Lithuanian crypto payment processor, recently announced that it has entered into an agreement with the Ukrainian central bank, increasing the number of crypto assets that well-wishers can donate to the country’s armed forces from four to more than 70.
This expansion of the list of recognized crypto assets comes just days after the Ukrainian government granted Polkadot developer Gavin Wood’s request to add DOT to the list of accepted cryptos for donations.
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According to reports, shortly after the Ukrainian government announced that polkadot payments would be accepted, Wood followed through on his promise and gave DOT coins valued more than $5 million.
As a result of the Ukrainian government’s decision to accept DOT and three other cryptocurrencies, more crypto players, including Tron founder Justin Sun, have made similar appeals to the Ukrainian government.
Dmitrijus Borisenka, Coingate’s co-founder, criticized the turmoil in his statements following the news, saying it is “disturbing the freedom of Ukraine and its people.” Sarunas Matulevicius, the crypto payment processor’s head of product, said:
“We do what we do best.” We have a platform that can process over 70 different cryptos and convert them into any other crypto or fiat currency in real time.”
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Matas Kibildis, another executive, is featured in a report describing how cryptocurrencies have now shown their worth. He stated:
“The ease with which any individual or private company can make cross-border decentralized-system donations to countries in conflict is very fascinating, and it is one of the major reasons why the community is actively helping Ukraine.”
Meanwhile, the international payments firm International Business Settlement (IBS) is also a party to the agreement, according to report. According to the report, all crypto donations will be converted into euros, and IBS would be in charge of approving and transmitting money to the central bank’s special donation accounts.