UN agency accepts first stablecoin donations worth $2.5M to help Ukrainian refugees

The United Nations High Commissioner for Refugees (UNHCR), a UN bureau for refugees, has accepted its first-ever crypto donations toward humanitarians assistance for Ukrainians fleeing the war-torn nation.

UNHCR accepted $2.5 cardinal successful Binance USD (BUSD) stablecoin donations from Binance Charity that would beryllium utilized to rehabilitate and enactment refugees fleeing to neighboring countries from Ukraine.

According to a report from the USA for UNHCR, much than 10 cardinal radical person been displaced from their homes successful Ukraine, and the bureau volition usage crypto stablecoin foundation funds to supply ineligible and societal assistance.

Marie Grey, Executive Director and CEO of USA for UNHCR said that the crypto donation volition beryllium captious successful its efforts to assistance arsenic galore families arsenic possible. Grey besides lauded the planetary crypto assemblage for helping Ukrainians astatine this clip of situation and said:

“This generous enactment volition marque a life-changing quality for families forced to flee, and much importantly, it shows families that a caring and committed planetary assemblage is stepping guardant to assistance during their darkest times.”

The struggle betwixt Russia and Ukraine has created a humanitarian situation successful the region. Cryptocurrencies person proven to beryllium 1 of the biggest mediums of assistance for the troubled federation arsenic it has received implicit $100 cardinal successful tracked crypto donations since the warfare began.

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When Ukraine was pleading with different countries for assistance and had raised respective calls for assistance successful immoderate form, crypto donors from astir the satellite came unneurotic to donate millions. These crypto funds person already proven captious for the state to enactment assorted evacuations and rehabilitation efforts to assistance and prevention arsenic galore lives arsenic possible.

Ukraine has not conscionable embraced crypto for donations; the state legalized integer assets and adjacent launched its ain nonfungible token collection to rise much funds.