Crypto is a tool that is “capable of producing results here and now,' says Binance charity head HelenHaiyu
Global crypto exchange Binance has launched a crypto card that allows refugees from Ukraine to make crypto transactions and receive funds through the Binance Visa Card.that it’s working with several entities, including European banking-as-a-service platform Contis and nonprofit organizations Rotary and Palianytsia, providing refugees affected by the Ukrainian conflict a way to send and receive funds and make purchases within the European Economic Area .
Apart from access to crypto transactions, recipients of the card who are verified by their local non-profit organizations will receive financial support from Binance in the form of Binance USD . These users will get 75 BUSD per month for three months, the donation amount recommended by the United Nations High Commissioner for Refugees .
Helen Hai, Head of Binance Charity, told Cointelegraph that because the card is not a"commercial product," its main objective is to provide a functional payment instrument to receive and spend donations. Hai explained that this is an important way that the world can see how crypto can play a role in society.
“The whole world is able to observe the important role which cryptocurrency plays, and how it transforms our reality. It is cryptocurrency that plays a key role in raising vital funds and providing much-needed humanitarian assistance to Ukraine.” Hai also noted that this is a good example of how crypto can be used not only as a means of transaction but also as a means of payment. Hai believes that crypto is a tool that has"no boundaries, restrictions, does not require documents and other complex and lengthy bureaucratic procedures, and is capable of producing results here and now."
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