According to reports, Ukrainians can now purchase electronic gadgets and other products using cryptocurrencies. This is due to a recent service launched by Whitepay in tech stores across Ukraine.
Whitebit, a Ukraine-based crypto firm, established the payment processor, Whitepay, which would allow large tech stores in Ukraine to accept crypto payments.
Whitepay Launches Crypto Payment Option In Ukraine’s Tech Stores
Whitepay, a subsidiary payment service of exchange firm, Whitebit, has launched support for crypto payment options in tech stores in Ukraine. According to Forklog, a news outlet, Tehnoezh and Stylus are two electronics retailers in the country that Ukrainians can patronize to enjoy the service.
Both electronic retailers have online stores that users can access from their homes. The payment service supports over 130 different virtual currencies, which is good news for crypto users.
Also, the company plans to increase the number of supported digital currencies in the future. At the physical tech stores, Ukrainians can pay for products using Whitepay’s installed POS (point of sale) terminals.
In online stores, users can use the appropriate channels provided by the company. Whitepay would be in charge of maintaining the system and providing customer support for Ukrainians.
Meanwhile, digital currencies have become very popular in Ukraine following the Russia-Ukraine crisis, which began in February. Ukraine is also a huge adopter of crypto in Eastern Europe.
The country has also taken steps to regulate the sector. Volunteer groups, companies, and individuals have made large crypto donations to support the country’s finances and defense.
Crypto Usage And Donation In Ukraine
Whitebit, an exchange firm in the country, had also contributed to the country’s development. At the beginning of 2022, the exchange signed a MOC (memorandum of cooperation) with the nation’s Ministry of Foreign Affairs.
The partnership allowed the company to provide assistance to Ukrainian refugees and Ukraine’s Anti-Crisis Center via its offices abroad. According to reports, the country used part of its crypto donations to buy weapons.
Furthermore, other crypto exchange firms have provided support for Ukrainians. Binance, the famous and largest exchange firm, launched special crypto cards for Ukrainians to use for payment.
Also, the co-founder of Ethereum, Vitalik Buterin, mentioned recently that he used Tornado Cash to make crypto donations to Ukraine.
During the crisis in Ukraine, the usage of digital currencies in the country soared. This is because most Ukrainians converted their fiat currency to crypto to ease spending.
Russians also turned to cryptocurrency after Western nations and international organization melted sanctions on the country.