Whitepay has introduced virtual tokens as a means of payment for electronics and other products. The Fintech company owned by Ukraine-based virtual asset exchange, Whitebit, also adopted crypto for payments in Ukraine’s biggest tech stores.
This adoption is extensive to electronic retailers such as Tehnoezh and Stylus. Stylus is the largest online store owner in Ukraine, and using crypto for payment will become available to its many customers. The innovation will aid customers in paying for their goods via 130 different virtual tokens. The number will increase to adopt more virtual tokens shortly.
Now, customers can pay with virtual tokens physically via designated Point of Sale machines provided by Whitepay. With the development, Whitepay will provide customers support and maintain the system’s running. Meanwhile, Ukraine has become a prominent force in the crypto sector. In the Eastern region of Europe, the country is a force to reckon with in terms of crypto innovation and embracement. Within the Ukrainian Populace, cryptocurrency has attracted positive attention in the last few years.
Crypto gained more attention in the country during the ongoing war with Russia. Public and private agencies have organized numerous initiatives that have attracted donations in crypto to resist the invading Russian forces. Aside from that, the Ukrainian government has made multiple attempts to regulate the industry properly. Despite the war, this approach has contributed heavily to the growth of crypto in the region.
Also, Whitebit contributed heavily to the welfare of Ukrainians throughout the war. Recently, the exchange platform penned a Memorandum of Cooperation with the Ukraine Ministry of Foreign Affairs. The MOC will see Whitebit offer help to Ukraine’s Anti-Crisis Center and support refugees via its representative office’s board. Binance also assisted Ukrainian refugees during the invasion. The world’s largest crypto exchange gave out special cards to citizens who were displaced due to the invasion.
This underlines how the crypto sphere has assisted the Eastern European country during the difficult time. Some notable crypto firms showed solidarity with the country by suspending their operations in Russia. Most of these organizations took the bold decision to weaken the Kremlin’s resolve and quit the invasion. Also, they intended to stop Russia from using crypto to circumvent the sanctions from the West.
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