Binance, the world’s largest cryptocurrency today, announced the Binance Refugee Crypto Card. This will be available to all current and future Binance users from Ukraine who have been forced to relocate to EEA countries as a result of the conflict with Russia.
The Binance card was developed in collaboration with Contis. It will enable displaced Ukrainians to send and receive crypto payments and make purchases at merchants in the European Economic Area who accept card payments.
Binance Charity collaborates with a number of non-profit organizations, including Rotary and Palianytsia, to provide crypto-based cash assistance through the Refugee Crypto Card, allowing relatives and acquaintances to transfer cryptocurrency to the new cards Binance wallets to help their loved ones.
Binance Refugee Crypto Cards
Refugees who apply for the Binance Refugee Crypto Cards and are validated by local non-profit organizations will get 75 BUSD, equivalent to US$75 per month for three months, following UNHCR’s suggested donation amounts. The BUSD coin will be immediately converted to local currency during the card payment.
Obtaining and using a card is completely free. Even if already residing in another EEA nation, refugees will need to use an existing account registered in Ukraine or establish a new Binance account using a Ukrainian home address to get a Binance Refugee Crypto Card. All users will have to complete an entire KYC verification process.
Furthermore, Binance Charity established the “Emergency Assistance Fund for Ukraine” bitcoin crowdfunding site so that individuals worldwide may donate cryptocurrency to help Ukraine. It has already raised almost $1 million.