Amid ongoing intense war with Russia, the Ukrainian government launched an official website “Aid for Ukraine” to accept donations in crypto from around the world.
Now, Crypto holders can donate leading cryptocurrencies including ETH, BTC, USDT, DOT, SOL, Dogecoin, Monero, ICON, and NEO by connecting their crypto wallets such as Metamask.
The donations will help the Central Bank to purchase ammunitions, bulletproof jackets, night visions, and other necessary stuff for armed forces to withstand strongly against Putin’s force. Also, the fund will be used to support the “humanitarian aid programs”.
The government got support from crypto exchange FTX, staking platform Everstake and Ukraine’s Kuna exchange. These crypto firms will pave the way to transfer donations directly to the National Bank of Ukraine.
This is the first time when any private sector and public sector is jointly working in the crypto space. FTX will swap crypto donations in fiat currencies for deposits at the National Bank of Ukraine.
The website displays a bar with a $200 million limit and at the time of writing the website received over $48 million in donations.
Co-founder of Solana Anatoly Yakovenko wrote that “Aid For Ukraine shows how the global crypto community and the traditional financial system can work together. Crypto donations to the DAO are stored and governed on-chain, then transferred to FTX, a centralized exchange, to be sold for fiat USD sent via SWIFT to the Ukrainian government”.
“Crypto assets proved extremely helpful in facilitation of funding flows to Ukrainian citizens and soldiers, as well as in raising awareness and engaging people worldwide,” Oleksandr Bornyakov, an official at the digital ministry, said in a statement.
Also, he has given a clue about the upcoming NFT collection that “will give the next boost to the crypto fundraising process.”
The Ukrainian government is continuously finding one and another way to use NFTs for their interest. Recently, Alex Bornyakov, Ukraine’s deputy minister of digital transformation revealed a plan to launch an NFT collection documenting the history of the Russian invasion.