Binance and VARUS partner up to allow Ukrainians to pay with crypto

On Sep 17, 2022

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Binance revealed a partnership with Ukrainian grocery store chain VARUS, declaring it will accept virtual currency payouts for grocery items purchased via the Binance Pay Wallet.

The local supermarket is among the biggest in Ukraine. It has 111 locations spread all over 28 towns. According to the corporation, this collaboration will give its customers immediate access to digital currency payment transactions and quick shipping in nine Ukrainian towns: Pavlograd, Vyshhorod, Nikopol, Brovary, Zaporizhzhia, Kryvyi Rih, Kamianske, Dnipro, and Kyiv.

Consumers who order something from VARUS’s Delivery service worth more than UAH 500 but also spend that amount with Binance Pay would be compensated with at least UAH 100, according to the businesses.

A month earlier, Whitepay, a Ukrainian POS and digital money payments business, launched new software allowing Ukrainians to buy electronic items and other product lines with virtual currency.

The virtual currency news source Forklog mentioned in a document on the digital payments method’s declaration that Binance’s Pay system was incorporated in 2022 by the Ukrainian system of household appliances and devices retail locations, Foxtrot.

Last August, Whitepay began accepting cryptocurrency payments for goods sold by significant Ukrainian tech shops. Clients of retail outlets such as Tehnoezh or Stylus now have access to the payments system founded by Whitebit, some European cryptocurrency interchange with Ukrainian origins.

Ukraine, the new hub for crypto

In participation at the 2022 Kyiv Tech Summit, which was held in Ukraine from September 6 to 9, Ethereum Founder Vitalik stated that: Ukraine may very well turn into the ultimate Web3 center. He stated that a nation could be a Web3 center if its residents are genuinely interested in the new tech and consider contributing significantly to its advancement. Ukraine possesses both the capability and the perseverance to accomplish this.

Ukraine has emerged as a geographic figurehead in virtual currency implementation. It has formed a concerted effort to restrict the sector in recent years, with the success of bitcoin or other digital currencies increasing even more due to the occurring combat dispute with Russia.

The Kyiv administration and volunteer organizations have been vigorously collecting money for defense and humanist projects through cryptocurrency charitable contributions. The virtual currency community has reacted to requests for help. Binance launched a special cryptocurrency badge for Ukrainian immigrants last June.

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