UN agency for refugees accepts its first BUSD donations worth $2.5M for Ukraine

The UN agency for refugees, the United Nations High Commissioner for Refugees (UNHCR), has moved forward with the first-ever crypto donation towards humanitarian help for Ukraine amid the ongoing Russia-Ukraine dispute.

Binance Charity donated $2.5 million in Binance USD (BUSD) stablecoin to UNHCR, which will be used to rehabilitate and support refugees fleeing Ukraine to neighboring nations.

As per a report from the USA for UNHCR, over 10 million individuals have migrated from Ukraine, and the agency has planned to use crypto charity funds to provide social and regulatory assistance.

The CEO and Executive Director of the organization, Marie Grey, believes that the crypto donation would prove its importance in its efforts to help as many families as possible. Grey went on to praise the unity in the crypto community and its massive mission to help Ukrainians at this time of war by stating:

“This generous support will make a life-changing difference for families forced to flee, and more importantly, it shows families that a caring and committed global community is stepping forward to help during their darkest times.”

Ukraine receives heavy support and crypto donations

Notably, as TheCoinRise reported, Ukraine has received heavy amounts of crypto donations for its military and citizens. When the country pleaded with other countries for help and issued multiple appeals for assistance in whatever way, crypto donors from all around the world rallied together to donate millions. These crypto funds have already been shown to be crucial in helping the government support various evacuations and rehabilitation operations in order to assist and save as many lives as possible.

It was successful in receiving more than $108 million in early March during the time when it launched its own crypto donation platform by partnering with FTX, Kuna, and Everstake. Ukraine has not only embraced crypto through donations; it has also legalized digital assets and launched its own NFT museum to raise more funds and preserve war memories.