- Binance launched a Refugee Crypto Card to help displaced Ukrainians.
- Almost 70,000 refugees have been issued this card already.
- Around 4,000 have got their approval and 1,700 have begun to receive funds.
Binance issued crypto cards for its users in the war-torn regions for Ukrainians. In detail, the card allows its holder to receive financial support and make payments. This is one of the many possibilities of crypto that Binance has always promised to deliver.
So far, from late April till Early June, about 70,000 refugees have gotten their Binance Refugee Crypto Card. The card made its debut in April to support Ukrainians in need of financial assistance and aid.
Specifically, for those pushed into leaving their homes amid the Russian invasion of their homeland, the card has been invaluable. For starters, the card allows them to transfer funds in the form of crypto. Users can use them in any country from the European Economic Area.
In turn, these card holders can also receive financial help from Binance’s partners. At the moment, 4,000 Ukrainians residing abroad have gotten their approval. More so, 1,700 have already begun to receive funds.
To highlight, Binance is participating in efforts to support internally displaced persons (IDPs). In fact, it is part of a project Binance launched with charitable foundation Palianytsia and Rotary Club Kyiv International.
This effort will support families with young children and minors as well as the elderly and the disabled with priority benefits. Currently, the initiative is helping 5,000 IDPs with a budget of $1.2 million.
A Binance representative says,
Initially, we were going to help people who were forced into the EU, were granted refugee status and really needed help. But in parallel, we decided to launch a pilot project to help those who remained in Ukraine.
Lastly, Binance also revealed that it is collaborating with the Ukrainian Ministry of Digital Development to set up a course for online professions. This initiative will help Ukrainians who lost their jobs due to the war.
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