The United Nations High Commissioner for Refugees (UNHCR), a UN refugee agency, has accepted its first cryptocurrency donations for humanitarian aid to Ukrainians fleeing the war-torn nation.
UNHCR accepted $2.5 million in stablecoin donations from Binance USD (BUSD) that would be used to rehabilitate and support refugees fleeing to neighboring countries from Ukraine.
According to a US report for UNHCR, more than 10 million people have been displaced from their homes in Ukraine, and the agency will use the cryptocurrency funds from the charity to provide legal and social assistance.
Mary Grey, Executive Director and US CEO for UNHCR, said the cryptocurrency donation will be vital in her efforts to help as many families as possible. Gray also praised the world’s crypto community for helping Ukrainians in this time of crisis, saying:
“This generous aid will be life-changing for families forced to flee and, more importantly, show families that a caring and committed global community is stepping up to help them through their darkest moments.” .
The conflict between Russia and Ukraine has created a humanitarian crisis in the region. Cryptocurrencies have proven to be one of the biggest means of relief for the troubled nation as it has received over $100 million in tracked crypto donations. since the war began.
When Ukraine was pleading with other countries for help and had made several appeals for help of any kind, cryptocurrency users from all over the world came together to donate millions. These funds have already proven vital for the country to be able to support various evacuations and rehabilitation efforts to help and save as many lives as possible.
Ukraine has not only adopted cryptocurrencies for donations; the country legalized digital assets and even launched its own collection of non-fungible tokens to raise more funds.
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