On Tuesday, crypto exchange Binance said that it has introduced a card for users from Ukraine who have escaped their nation due to invasion by Russia, saying the blockchain-based currency is an efficient medium for meeting emergency financial requirements.
The Binance Refugee Crypto Card is free and is for all existing and new Binance users from Ukraine who’ve been forced to move to European Environment Agency nations due to the war declared by Russia in late February. The EEA has 32 member nations and is an agency of the European Union.
Relocated Ukrainians can utilize the card to receive or make cryptocurrency payments and make purchases at EEA retailers that accept card payments, Binance said in a statement.
According to the United Nations High Commissioner for Refugees, over 5 million people have left Ukraine in search of safety from invasion by Russia. In its war against the former Soviet republic, Russia has boomed the capital city Kyiv and the coastal cities of Odesa and Mariupol, among other areas.