Ukraine Buys 5.5k Bulletproof Vests, 500 Helmets using Crypto Donations

In an earlier Tweet, Deputy Minister Bornyakov had pointed out that for the last two years, Ukraine had been at the forefront of crypto adoption and that digital assets were playing a vital role in the country’s defense process.

He said:

Almost for two years, our ministry @mintsyfra have been working on developing a legal framework for crypto companies. Today crypto plays vital role in Ukraine’s defense process. All this helps to raise awareness and engage people worldwide.  #StandWithUkraine

With respect to managing the crypto donations, the Ukrainian government has partnered with the Kyiv-based crypto exchange of Kuna.io.

The crypto exchange has assisted the Ukrainian government in setting up secure crypto wallets for the funds as well as the numerous NFTs that are continually being donated towards the effort to defend the country. Furthermore, the trading platform is helping with the conversion of crypto donations into traditional currency, primarily Euros.

In an interview with the Wall Street Journal earlier this month, Kuna’s CEO, Michael Chobanian, explained that the crypto donations were particularly useful when buying non-lethal military equipment. However, they could not purchase ‘nuclear bombs or rockets’ with the crypto donations that have since hit $77.3 million.

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