Ukraine has launched a cryptocurrency platform for fund raising in support of the nation’s efforts against its Russian aggressor. United24 was officially announced by President Volodymyr Zelenskyy on Monday, who commented that “United24 is to become a digital service that will unite the entire civilized world in supporting Ukraine,”
United24 supports over cryptocurrencies, allowing holders of all sorts of digital coins to contribute to the cause. Bitcoin, Ethereum, Binance Coin are all supported, as well as many more crucial crypto assets. Decentralized coins are also allowed.
Donors can chose one of three categories for their donations, making this a very new and unique approach to fundraising. Those that give can allocate to one of three area: humanitarian aid, reconstruction of Ukraine, and defense and demining.
The project will provide weekly reports on how funds are spend and have been spent, and initiative aiming at increasing the overall donations by proving full transparency. Moreover, the Ukrainian National Bank will provide reports every 24 hours.
The financial system in Ukraine has collapsed, while the economy is in ruins. The ambivalent cryptocurrencies have become an important support beam for the country’s war efforts, as well as its humanitarian efforts. As of writing this, according to Alex Born – the Deputy Minister of Ukraine – more than $100 million have been raised.