The world’s leading crypto exchange Binance has launched the Binance Refugee Crypto Card for all current and new Binance users from Ukraine. This is to help the Ukrainian refugees to make crypto transactions and receive funds through the Binance Visa Card.
Ukrainians are forced to move to EEA countries as a result of the war with Russia. At such a difficult time, the Binance card has been created in partnership with Contis to assist displaced Ukrainians to receive crypto payments. With this, refugees can complete purchases at retailers in the EEA that accept card payments.
Getting and using a card is free and to obtain a Binance Refugee Crypto Card, refugees require to use an existing account registered in Ukraine. Alternatively, they can register a new Binance account using a Ukrainian home address, even if currently living in another EEA country.
Also, the refugees must complete full KYC verification in order to receive the card.
Refugees who are verified by local non-profit organizations and applied for the Binance Refugee Crypto Cards will receive 75 BUSD, that’s $75 per month for three months as recommended by UNHCR, the UN Refugee Agency.
The BUSD cryptocurrency will be converted to local currency automatically during the card payment. The move is part of Binance’s continued efforts to support programs for Ukrainians affected by the war.
As a part of the programme supporting Ukrainian refugees, Binance Charity is working with various non-profit organizations including Rotary and Palianytsia to provide crypto-based cash assistance as well. This will allow relatives or acquaintances to transfer crypto to the new cards and Binance wallets to support their loved ones.
Binance Charity had previously donated $2.5 million to UNICEF in cryptocurrency. This contribution was made to help children and their families in Ukraine. Undeniably, Binance has been quite active in supporting helpless Ukrainians in crisis.