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CoinGate enables 70+ cryptocurrencies for donations directly to Ukraine’s National Bank

CoinGate enables 70+ cryptocurrencies for donations directly to Ukraine's National Bank
Jordan
Major
4 months ago
2 mins read

One of the leading cryptocurrency payment processors, CoinGate, has developed a payment portal to support Ukraine with 70+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Dogecoin (DOGE) and many more.

In response to armed Russia’s aggression 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, according to the statement shared with Finbold

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. 

Crypto donations to Ukraine are now more accessible

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. 

CoinGate’s Head of Product Sarunas Matulevicius expressed:

“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.”

The company 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. 

CoinGate is a Lithuanian-based fintech company founded in 2014.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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