Bitcoin News and Finance Ukrainians Offered New Crypto Services, Bitcoin Cards Skip to main content

Ukrainians Offered New Crypto Services, Bitcoin Cards

Ukrainians Offered New Crypto Services, Bitcoin Cards

Along with the growing popularity of cryptocurrencies, Ukrainians are enjoying an expanding range of related services and products. Besides new options to buy and trade coins, crypto users in the country will be offered two cards that will allow them to spend their digital currencies in stores and online.

Wirex Gives Ukrainians Access to Over 20 Cryptocurrencies, Promises Crypto Card

U.K.-based crypto payment processor Wirex has allowed residents of Ukraine to purchase and exchange cryptocurrencies on its platform. The company supports more than 20 cryptocurrencies, including major coins such as BTC and ETH as well as popular altcoins like DOGE.

Ukrainians will also be able to open crypto savings accounts based on defi products, Wirex told Forklog this week. These will return up to 16% compound interest on selected currencies annually, the provider explained, noting that the interest can also be credited in the native WXT currency.

Wirex also plans to issue its card to Ukrainian crypto holders giving them the opportunity to spend their coins on goods and services offered by local merchants that do not directly accept cryptocurrency. This will be possible through instant conversion to hryvnia. Ukrainians will also receive a virtual card they can add to Apple Pay and Google Pay.

Ukrainians Offered New Crypto Services, Bitcoin Cards

The increasing popularity of cryptocurrencies has turned Ukraine into a leader in adoption while authorities in Kyiv have been taking steps to regulate the crypto space. According to Wirex CTO Ruslan Kolodyazhny, the company has long planned to enter the Ukrainian market as it considers it promising.

The British fintech obtained a license from the U.K. Financial Conduct Authority more than three years ago. Since then, its services have enjoyed a growing consumer interest. Over 4 million people in 130 countries now use its Mastercard and Visa cards.

Ukraine’s Monobank to Offer Another Bitcoin Card

Ukrainians may expect similar products from domestic payment providers as well. Last month, the Ukrainian online banking platform Monobank announced it’s ready to release its own cryptocurrency card. The company complained it had been waiting for more than three months to get an approval from the National Bank of Ukraine.

In October, the head of the monetary authority, Kirill Shevchenko, revealed that the central bank had been approached by commercial banks seeking permission to issue cards linked to crypto wallets. He stressed, however, that the regulator remains concerned over the risks associated with such transactions and certain challenges with financial monitoring.

Ukraine is yet to comprehensively regulate its crypto market. Ukrainian parliament adopted the long-awaited law “On Virtual Assets” in early September when lawmakers approved the bill on second and final reading. The legislation passed its first reading last December, after which it was revised and presented again in the Verkhovna Rada in June of this year. However, in early October, President Volodymyr Zelensky returned the law and requested further changes.

Do you expect Ukrainian regulators to soften their stance on crypto-related products and services? Tell us in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory