Global Encryption Exchange has launched the Binance Encryption Card, which allows encrypted transactions for refugees from Ukraine and receives payments through the Binance Visa card.

Binanis has announced that it will work with European banking services platform Contis and non-profit organizations Rotary and Palianytsia to provide ways to send and buy funds to refugees affected by the Ukraine conflict within the European economic zone. (EEA).

In addition to entering the cryptocurrency business, cardholders certified by local non-profit organizations will receive Binance financial assistance in the form of Binance USD (BUSD). These users will receive a BUSD of 75 BUSD per month within three months, as recommended by the United Nations High Commissioner for Refugees (UNHCR).

Helen Hai, head of Binance Charities, told Cointelegraph that the card was not a “commercial product.” Its main purpose is to provide a functional payment tool for accepting and spending donations. Hai explains that this is an important way for the world to see how cryptography plays a role in society.

“The whole world is watching how cryptocurrency plays a role and how it changes our reality. “It simply came to our notice then.
Hai also pointed out that this is a good example of not only using cipher as a means of trading, but also as a means of payment. Hai Schiffer believes that “there are no boundaries, no restrictions, no documents and no other complex and long bureaucratic procedures that can be achieved here and now.”

Related: In the conflict, NFT projects are already trying to rebuild Ukraine

In early April, Vitalik Buterin donated $ 5 million to Ethereum (ETH) to help Ukraine. The founder of Ethereum did not make any public announcements when he made the donation. However, he was found two days later and has attracted the attention of social media.

Source: CoinTelegraph