Whitepay Launches Service to Let Ukrainians Buy Electronics With Crypto

Whitepay, the crypto processing offshoot of the Estonia-based Ukrainian cryptocurrency exchange Whitebit has launched a new payment option for crypto users which will allow them to pay for electronics goods in the country. Whitepay is enabling the crypto payment option with some of the most renowned tech stores in the country including Tehnoezh (Техно Їжак in Ukrainian) and Stylus.

The new service can be accessed with more than 130 digital currencies and Whitepay hopes to add more to this number in the near future. 

Ukrainian users who want to pay for their goods with digital currencies at any of the partnering stores can initiate payment online through the payment gateway made possible by Whitepay. Users will also be able to make payments at physical stores through Point of Sale (POS) terminals in defined locations.

Whitebit will be the firm managing the payment gateway and also provide customer support to crypto holders that are making use of the service.

Ukraine and the Dividends of Crypto Adoption

Ukraine remains one of the countries in the world that has received a massive positive impact from its positive disposition towards digital currencies. 

Following the parliamentary approval of the crypto bill earlier this year, President Volodymyr Zelenskyy signed the bill into law this year, and thus opened the floodgates to massive support from the crypto community following the invasion of the country by Russia.

From donations to the country by cryptocurrency exchanges to the increase in the service utility that is powered by digital currencies, the embrace of these nascent asset classes is growing remarkably. 

Whitebit is amongst the digital currency exchanges that came to the aid of Ukraine. Though based in Estonia, the cryptocurrency trading platform signed a memorandum of cooperation with the Ukrainian Ministry of Foreign Affairs to provide assistance to its Anti-Crisis Center and support Ukrainian refugees through its representative offices abroad.

The legalization of cryptocurrencies is bound to push Ukraine on the world map with respect to digital assets. While crypto served as a major lifeline in the Russo-Ukrainian war, there is a huge tendency that more initiatives like this will skyrocket in the near future.