Binance, a leading crypto exchange, is still going strong in Ukraine. It’s even prepping to launch a brand-new crypto payment card for crypto supporters who live in the country. Binance plans on having a more dominant position in Ukraine’s crypto market by offering its users a more expansive selection of local crypto-related services. In an interview with Cointelegraph, Binance Ukraine’s new general manager Kirill Khomyakov stated the following:
Besides its current plans to launch a crypto payment card, Binance Ukraine is also seeking to develop local NFT-related services. According to Khomyakov, the platform plans on launching a fan token dedicated to Ukraine’s major sports team, as this can help improve fan interactions.
Ukraine’s current crypto legislation doesn’t support direct crypto payments, as digital assets like these still aren’t legally recognized. However, crypto transactions aren’t banned in any way.
Other countries like Russia have gone ahead and banned crypto-related payments. However, many institutions continue to accept such payments, including the state-backed State Hermitage Museum, during an online NFT auction.
Binance planned on launching the same crypto payment card in Russia even though the country had a blanket ban on crypto payments. However, the platform still hasn’t launched the product since its announcement in 2020. According to Gleb Kostarev, Binance’s Eastern European director, releasing the crypto payment card in Russia isn’t a priority right now.
