Ukraine Donations: Financial Companies Increase Support

Amid economic issues and a massive humanitarian crisis in Ukraine, financial companies around the world have shown great support to assist the country in difficult times. While the magnitude of the crisis is significant, organizations are doing their bit to facilitate rescue efforts.

Last week, digital asset trading services provider, EXMO established a fund to support people in Ukraine who are suffering from recent aggression. Dubbed ‘Save Ukraine Relief Fund’, the main purpose of the fund is to assist civilians. EXMO donated approximately $1 million (25 BTC) for humanitarian aid.

“First of all, you should know that Russia introduced a bill on criminal punishment for fakes (that means the TRUTH here because they have staged a drama on TV) about the actions of the Russian armed forces was approved by the relevant committee of the State Duma. So basically, all the info about the real events will be banned. Half of the TV channels are banned. Putin's propaganda is crazy, people there really believe that they 'are saving' Ukraine. So, crypto here plays an incredible role as you can send money anonymously. As many people from Russia are doing now,” Maria Stankevich, the Chief Business Development Officer at EXMO, said.

Crypto Account Holders from Russia

While providing clarity on the blockage of crypto accounts of its clients from Russia, Maria said that the exchange is not unilaterally planning to block all Russian accounts.

“We are not planning to block the accounts of residents of the Russian Federation on the exchange unilaterally. This strikes ordinary people and contradicts the very idea of ​​cryptocurrencies to be beyond states, beyond intermediaries, beyond nations, and beyond borders. At the same time, we comply with all AML and KYC rules, checking our clients online with the help of our partners Acuris Risk Intelligence for sanctions restrictions on certain individuals and legal entities and closing access to our services. Thirdly, besides our own 1M USD that we donated, we gathered already 500k in 3 days,” she added.

XTB’s Donation

Recently, Omar Arnaout, the CEO of X-Trade Brokers DM SA (XTB), a Poland-based financial trading services provider, announced that the company will donate 1 million PLN to two charity foundations helping Ukraine during the recent humanitarian crisis.

“The invasion of Ukraine touched us all deeply. The unjustified act of aggression has affected hundreds of thousands of civilians who need shelter, food, medicine and other support to survive this crisis. This tragedy has also affected our friends and colleagues at XTB. Faced with those worrying developments, we could not stay indifferent. This is why we decided to donate 1 million PLN to two charity foundations helping Ukraine during this humanitarian crisis,” Arnaout said.

“Additionally, our team members are in close contact and focused strongly on voluntary work. We try to address the growing needs of the people not only in Ukraine but also the refugees arriving in Poland. This is most certainly not the end of our plans to help and irrelevant of the industry, this is the time to work together,” the CEO of XTB explained.

On 27 February 2022, Binance announced a donation worth $10 million to support the humanitarian efforts in Ukraine.