Payments & fintech - Ukraine Digital News

The Current Wave: New breed of Ukrainian tech entrepreneurs seek success in global markets, Part 5

From Kyiv, to Warsaw, to London, Ukrainian startups continue growing and raising funds

February 28, 2023 February 28, 2023

In yet another sign of resilience amid the war, at least five funding deals involving Ukrainian or Ukrainian-founded startups were reported in the course of February. Finmap landed €1 million in a round led by Polish-American venture fund Smok Ventures, a Warsaw, Poland-based fund. Launched in 2018 by Ukrainian entrepreneurs Ivan Kaunov and Oleksandr Solovei, Finmap is …

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Kyiv-based startup raises $2 million to help blockchain transaction originators keep their profit

February 16, 2023 March 6, 2023

Ukrainian DeFi startup Kolibrio has announced its first round of funding, having raised $2 million from a consortium of Web3 investors. Jump Crypto led the round, with participation from Delta Fund and Everstake Capital alongside unnamed individual investors. The company is developing a solution to help blockchain transaction originators “get ownership of the order flow they …

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A crypto exchange with Ukrainian and Russian co-founders raises $5 million from US and Ukrainian funds

December 23, 2022 March 6, 2023

Tallinn-headquartered crypto exchange Utorg raised $5 million in a round led by US fund Dragon Fly with participation from Hypra and TA Ventures, two funds with Ukrainian roots. Completed in September but publicly announced only recently, the deal valued the startup at $50 million, Forbes Ukraine heard from an unnamed source. Founded in October 2020, …

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How Russian neo-Nazi paramilitary fighters steal cryptocurrency through Ukrainian charity sites — and use it to fund the war

November 17, 2022 November 21, 2022

The paramilitary group Rusich is one of multiple Russian far-right and neo-Nazi organizations that have fought in the war in Ukraine. Because it’s not an official part of the Russian Armed Forces, Rusich has had to find alternative ways of funding its members’ military equipment and medical needs — and has found the perfect solution in cryptocurrency. Meduza special correspondent …

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Report: War spurs crypto activity in Ukraine

October 18, 2022 October 18, 2022

Since late February 2022, the Russian invasion of Ukraine affected all aspects of life in the two nations. Their populations have felt the war’s economic impact, including on cryptocurrency, as analysed in a recent report by Chainalysis. Shortly after the war began, cryptocurrency transfers increased in Ukraine and steadily rose through June. In March, right after the war …

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Ukraine to revise virtual assets law in line with EU crypto rules

September 20, 2022 September 22, 2022

Ukraine’s law “On Virtual Assets” — the main piece of legislation that concerns the country’s crypto space, adopted in early 2022 — will be amended in accordance with the provisions of the European Union’s Markets in Crypto Assets (MiCA) legislative package. Since the East European nation was granted the status of a candidate for EU …

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Whitepay introduces crypto payments to Ukraine’s tech stores

August 19, 2022 September 22, 2022

Ukrainians will be able to purchase electronics and other products with digital coins thanks to a service provided by Whitepay. The payment processor, established by the Ukrainian-born digital asset exchange Whitebit, has recently implemented crypto payments in the country’s largest tech stores. Among the electronics retailers, whose customers will now take advantage of the new service, …

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Ukraine launches NFT ‘Museum of War’ in crypto crowdfunding push

March 25, 2022 April 4, 2022

Ukraine started auctioning off a collection of non-fungible tokens (NFTs) on Friday in an expansion of a cryptocurrency fundraising push that Kyiv says has already collected more than $65 million for its war effort. The ‘Meta History: Museum of War’ collection is a series of digital images – including silhouettes of warplanes, screengrabs of news …

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PayPal expands services to allow users to send money to Ukrainians

March 17, 2022 March 22, 2022

PayPal is expanding its services to allow its users to send money to Ukrainians, the company announced on Thursday. Prior to this expansion, users in Ukraine could only use PayPal to send money out of the country. The expansion allows Ukrainian PayPal account holders to send and receive payments from friends and family around the world. Ukrainian …

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Ukraine legalizes crypto sector as digital currency donations continue to pour in

March 17, 2022 August 23, 2022

Ukraine has passed a law that creates a legal framework for the cryptocurrency industry in the country. The law allows foreign and Ukrainian cryptocurrencies exchanges to operate legally, according to the country’s Ministry of Digital Transformation. Ukraine’s President Volodymyr Zelenskyy has signed the law as Russia’s war on Ukraine continues underscoring the important role that …

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Ukraine to launch NFT to mark history of Russian invasion

March 13, 2022 March 14, 2022

The Ukrainian government is to launch a non-fungible token marking the history of the Russian invasion with unique digital art, in its latest use of digital assets to fund its war efforts. The country’s deputy minister of digital transformation, Alex Bornyakov, said the NFT collection would be “like a museum of the Russian-Ukrainian war. We want to …

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Crypto donations pour in after Ukraine government asks for Bitcoin and Ether — $17 million raised so far

February 28, 2022 March 1, 2022

he Ukrainian government began soliciting cryptocurrency donations Saturday morning. The official Twitter account for Ukraine tweeted: “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, ethereum, and USDT.” The tweet also includes a BTC address and an address for ETH and USDT donations. Mykhailo Fedorov, vice prime minister of Ukraine, also tweeted a similar message. Following the Ukrainian government’s solicitation of crypto donations, …

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