The New Fundraising Platform in Ukraine supports over 100 Cryptocurrencies

9 May 2022

President Volodymyr Zelenskyy of Ukraine unveiled a new fundraising platform called United24, which takes contributions from more than 100 different crypto assets. United24 is named after the president of Ukraine.

Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), and other popular cryptocurrencies like these are all supported, as is the newly launched apecoin (APE) and some smaller cap decentralized finance (DeFi) coins like Hector Finance's HEC, StreamCoin's STRM, and Enzyme's MLN, according to the platform's website.

In addition to the expanded list of supported currencies, a unique element of this new fundraising effort in Ukraine is the ability for contributors to choose exactly how their donations should be used.

There are now three areas of focus on the website for visitors to choose from: military and demining, humanitarian and medical assistance, and the rebuilding of Ukraine.

Some crypto contributors have voiced displeasure with the idea of their "hard-earned" crypto funding the military. Rather than paying weapons dealers, "money may have been effectively spent on displaced Ukrainians," one user said.

People from all over the globe may now give to various Ukrainian charities through a newly launched website, which has been shared with via a press release.

It also intends to improve the allocation of contributions by giving weekly reports outlining how the money was used. Additional reporting would be provided by the central National Bank of Ukraine every 24 hours.

"Everyone can donate in one click from any country. Anybody may participate: concerned individuals, entrepreneurs, and large technology corporations," President Zelenskyy said, adding:
"We fight with the enemy every day for the values of freedom and democracy. United24 will become a digital service that will unite the entire civilized world in supporting Ukraine."

An official report said that money would be first deposited into the National Bank's account. 

It then dispersed to the vital ministries (healthcare and infrastructure), including the Ministry of Defense.

Meanwhile, Deloitte, one of the "Big Four" US accounting companies, will join United24 to examine the general ministry report quarterly.

Fundraising campaigns for Ukrainian organizations and non-profits were launched in the wake of the Russian assault.

In mid-March, the Ukrainian government created the crypto fundraising site Aid For Ukraine, collaborating with major crypto exchange FTX and staking platform Everstake to allow people to give in different crypto assets.

Crypto contributions totaling more than $60 million have been reported by the Ministry of Digital Transformation website.

Coin contributions have been used to buy ballistic vests, bandages, and night-vision gadgets for Ukraine's military, according to Alex Bornyakov of Ukraine's Digital Transformation Ministry.

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