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Tuesday, August 9, 2022

Binance Made An Announcement Of A New Crypto Card For Ukrainian Refugees

Binance, the global exchange of crypto, recently declared a card of crypto that will allow the Ukraine refugees to conduct any type of transaction based on cryptocurrency. The card will also help them to get money from the Visa Card of Binance. An announcement made by Binance stated that it is associated with many entities like non-profit organizations like Palianytsia and Rotary and banks of Europe providing a platform of service for Contis. 

Binance Will Allow Ukrainian Refugees To Receive And Send Crypto Payments 

All these institutions together will assist the refugees of Ukraine who have been impacted negatively by the unannounced invasion of Russia into the territories of Ukraine. They will search for a method with the help of which some funds will be received or sent and some business will be conducted with the European Economic Area (EEA). 

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Not only the refugees will get the transaction of crypto access, but also will get financial assistance from Binance in the form of BUSD. However, the recipient of the cards must verify it with the local NGOs. The users will receive the benefit of 75 BUSD every month for at least three months and the money of donation was recommended by the United Nations High Commissioner for Refugees (UNHCR). 

As per the Binance Charity Head, Helen Hai, this card is not a product of commercialization and the principal instrument of payment that was used to send and receive donations. This way is very thoughtful and can make people realize the importance of crypto in every society in the world. 

In the views of Hai, this will also expand the function of crypto to the common people as it is not just a means of transaction but also helps in payment. This crypto tool is expanding its boundaries even more and there are minimal restrictions. Furthermore, the least number of documents are required and there are no lengthy or complex procedures involved which will make the people suffer.

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