Amidst Russia's full-scale invasion, Ukraine's perseverance surprised many. The Ukrainian Armed Forces have stood strong, backed by the nation's unity and worldwide donations. Support from individuals worldwide, including crypto donations through Whitepay, has significantly bolstered Ukraine's defense efforts.
Ukrainians have effectively used crypto donations to bolster their defense capabilities, with one notable achievement being the procurement of a reconnaissance satellite. Recognized for their forward-thinking and innovative approach, the crypto community has played a significant role in this effort.
Cryptocurrency donations have become a popular, swift, and secure means of transferring funds where they are most critically needed, operating 24/7 without the hindrances of traditional financial systems such as delays, borders, or corruption.
At the war's outset, Whitepay, a SaaS company specializing in crypto payment solutions for businesses and part of the WhiteBIT ecosystem, launched a dedicated platform for collecting crypto donations. This initiative facilitates the acceptance of various cryptocurrencies, which are promptly converted to Ukrainian hryvnias and then distributed to support the Ukrainian Armed Forces, Ministry of Health, volunteers, and civilians affected by the russian aggression.
In 2023, Whitepay facilitated the collection of over 500,000 USDT in charitable donations. These 'stable tokens' are firmly pegged to the US dollar at a 1:1 ratio, translating to approximately 18.5 million UAH already directed towards noble causes.
"We are grateful to our partners for their support and openness to integrating cutting-edge technologies that can change the world for the better," commented Glib Udovychenko, CEO of Whitepay. "Realizing that cryptocurrency holders share our company's values is extremely important to me."
Donations in cryptocurrency are becoming a more popular method of aiding those in challenging situations. Blockchain technology has allowed for direct, barrier-free charitable contributions while ensuring anonymity, speed, and low transaction costs. This efficiency enables organizations to effectively address diverse humanitarian crises.
About:
Whitepay is a SaaS company that provides cryptocurrency solutions for business and charity: crypto acquiring, POS terminals, and payment pages. Whitepay supports over 140 digital assets and provides its services commission-free to all users of WhiteBIT.
WhiteBIT, established in 2018 in Ukraine, is the largest European centralized crypto exchange. It offers over 350 trading pairs, over 270 digital assets, and 10 state currencies. In a strategic partnership with the Ministry of Digital Transformation, WhiteBIT has launched a Crypto Literacy and Blockchain Educational Project on the Diia.Education platform. The company is renowned for its security, ranking among the top three platforms. The exchange goes beyond just trading cryptocurrencies; the company has established official partnerships with several high-profile entities, including the National University of Kyiv-Mohyla Academy, the Ministry of Foreign Affairs of Ukraine, the Ukrainian national football team, FC Barcelona, FC Trabzonspor, and FACEIT. WhiteBIT’s ultimate goal is mass adoption of blockchain technology.
