Thursday, June 13, 2024
HomeCryptocurrenciesCoinGate Develops Payment Portal to Support Ukraine with Multi Currency Donations

CoinGate Develops Payment Portal to Support Ukraine with Multi Currency Donations

One of the leading cryptocurrency payment processors, CoinGate, a Lithuanian-based fintech company, has developed a payment portal to support Ukraine with 70+ cryptocurrencies, including BTC, ETH, LTC, DOGE and much more.

In response to armed Russia’s aggression happening in Ukraine, The National Bank of Ukraine (NBU) has opened special fundraising bank accounts to support the Armed Forces of Ukraine. 

Therefore, CoinGate has opened a payment page that allows crypto users to donate more than 70 cryptocurrencies directly to the NBU bank account. 

The donated crypto is collected by CoinGate and converted to EUR, while the funds are approved, monitored, and transparently sent to NBU by International Banking Settlement, an Electronic Money Institution based in Lithuania.
Until now, Ukraine’s official Twitter account stated that it accepts only BTC, ETH and USDT cryptocurrency donations. This expansion of cryptocurrencies makes various cryptocurrency donations to Ukraine even more accessible and much more flexible for crypto users to support Ukraine. 

Šarūnas Matulevičius, CoinGate’s Head of Product, stated in his announcement:

“It seems that every company, big and small, is doing their part in what is seen as a sacred duty – to support the free people. We do what we do best. We have a platform that is able to process 70+ different cryptos with the ability to convert them into any other crypto or fiat in real time. We’ve noticed that there are some limited options for BTC and ETH donations only. We immediately thought we can fit here offering the ability to take most of the top coins and easily credit fiat directly to NBUs account, while also levering our network of users and partners to spread the news.”

CoinGate has confirmed that no payment processing fees will be taken from the donation, as 100% of the funds will be transferred to the National Bank of Ukraine. 

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