Ukraine’s New Fundraising Platform Accepts Crypto, Allows Donors to Allocate Funds

Ukraine’s New Fundraising Platform Accepts Crypto, Allows Donors to Allocate Funds

United24, a new fundraising platform announced recently by Ukrainian President Volodymyr Zelenskyy, accepts a number of cryptocurrencies, alongside traditional payment methods. The initiative also permits donors to choose how their money will be spent. Kyiv Launches New Platform for Donations Amid Ongoing War With Russia

Ukraine, which has been increasingly relying on foreign donations to support its defense efforts and overcome humanitarian challenges following Russia’s invasion, now offers those who want to help an integrated platform that streamlines the process and allocates financial support in accordance with the donor’s will.

According to its website, United24 was launched by President Volodymyr Zelenskyy as the main venue for collecting charitable donations to support Ukraine. The Ukrainian head of state announced the global initiative last week, with his administration pointing out that the goal is to unite people from all over the world in their desire to help the country.

United24 aims to increase the volume of donations for the Eastern European nation while ensuring the efficiency and transparency of their distribution, a press release emphasized. The project allows everyone to join efforts to support Ukraine and provide real assistance to Ukrainian citizens who suffer from the war, Zelenskyy pointed out and elaborated: Everyone can make a one-click donation from any country. Individual, conscious citizens, entrepreneurs and large technology corporations.

An array of payment methods is available to the donors. These include traditional means such as bank wire, credit card, and Paypal. Members of the crypto community can send funds by way of a number of coins — from BTC and BCH, to USDT and DOGE — through Whitepay, a provider of a point-of-sale (POS) solution for cryptocurrency payments.

Ukraine has already received millions of dollars in crypto donations, and in March the Ukrainian government launched a website called ‘Aid For Ukraine’ for those who want to send digital currencies. It was announced after media reports revealed that ‘Help Ukraine’ crypto scams are on the rise.

The financial assistance will be distributed across three main areas: defense and demining, humanitarian and medical assistance, and reconstruction of Ukraine. People and organizations who wish to send money are prompted to choose one of these options as soon as they click the ‘Make a donation’ button.

Collected funds will be deposited to accounts at the National Bank of Ukraine assigned to the Ministry of Defense, Ministry of Healthcare, and the Ministry of Infrastructure, which will use the money to cover the most pressing needs. They will report on the distribution of the donations every week.

Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov has been tasked to oversee the initiative. Consulting and auditing company Deloitte Ukraine, part of the Deloitte international network, will check the reports filed by the ministries on a quarterly basis. Tags in this story Crypto, Crypto Donations, Cryptocurrencies, Cryptocurrency, donations, donors, fundraising, help, invasion, platform, Russia, support, Ukraine, ukrainian, War, website

What do you think about Ukraine’s new fundraising initiative? Share your thoughts on the subject in the comments section below. Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration. Cryptocurrency Exchange Kucoin Raises $150 Million in Pre-Series B Funding Round, Reaches $10 Billion Valuation NEWS | 1 min ago Bitcoin Cash to Include Bigger Integers and Native Introspection in Upcoming Upgrade NEWS | 16 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTop Diamond Producer De Beers Deploys Blockchain-Based Platform at Scale Next articleCryptocurrency Exchange Kucoin Raises $150 Million in Pre-Series B Funding Round, Reaches $10 Billion Valuation Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher