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Crypto payment processor Coingate has made a coalition with International Business Settlement (IBS). The collaboration aims to start an arrangement with the National Bank o9f Ukraine (NBU). Notably, the arrangements will enable well-wishers of the nation to send donations to Ukraine through more than 70 different virtual crypto assets. It is incredible to see how where the humans were unable to care for each other crypto helped to do so.
Widening list of accepted virtual currency donations
Coingate, the Lithuania-based digital currency payments processor has begun an arrangement with the Ukrainian central bank that has seen the number of digital assets well-wishers can donate. The donations will help the nation to acquire armed forces. Indeed, the count of different crypto has risen from just four to more than 70.
Such a widening of the list comes just a few days following the government acceded to polkadot creator Gavin Wood’s pleas to have DOT added to the list of the assets accepted for donations. As the Ukrainian government said it would accept polkadot donations, Wood immediately honored his pledge and donated Polkadot coins worth over $5 million.
Following the decision of the government, more players in the cryptosphere began to plead with the nation.
Coingate converts crypto in real-time
Dmitrijus Borisenka, the co-founder of Coingate denounced the conflict that was disturbing the freedom of Ukraine and its people. Coingate’s product head underscored that they have a platform which is capable of converting more than 70 cryptocurrencies into any other crypto or fiat in the real-time.
However, with the recent adoption of digital assets in such a war scenario has proved the significance of these assets. According to Matas Kibildis, a Coingate’s executive, the fact that any individual or entity can easily do cross border donations through a decentralized system is truly mesmerizing.
IBS is supporting Ukraine actively
According to reports it is unveiled that the International Business School, the international payments firm is also a party of Coingate’s arrangement. Notably, all the cryptocurrency donations will be converted into euros. And here IBS is tasked with approving and sending the payments to special donation accounts. These accounts would have been set up by the central bank.
