The United Nations High Commissioner for Refugees (UNHCR), a UN refugee agency, has received its first-ever crypto stablecoin contributions for humanitarian help to Ukrainians fleeing the country’s turmoil.
Stablecoin Contributions from Binance
Binance Charity donated $2.5 million in Binance USD (BUSD) stablecoins to UNHCR, which will be used to rehabilitate and assist refugees fleeing Ukraine to neighboring countries. More than 10 million people have been evacuated from their homes in Ukraine, according to a UNHCR study, and the organization will utilize crypto stablecoin charity funding to give legal and social support.
According to Marie Grey, Executive Director and CEO of UNHCR in the United States, the bitcoin gift will be critical in the organization’s efforts to assist as many families as possible. Grey also praised the entire crypto community for assisting Ukrainians through this difficult period, saying:
A humanitarian catastrophe has erupted in the area as a result of the war between Russia and Ukraine. Since the conflict started, cryptocurrencies have proved to be one of the most important sources of relief for the beleaguered country, with over $100 million in documented crypto contributions.
When Ukraine pleaded with other nations for help and issued multiple appeals for assistance in whatever way, crypto donors from all around the globe banded together to contribute millions. These crypto money have already shown to be crucial in helping the government finance different evacuations and rehabilitation operations in order to assist and preserve as many lives as possible. Ukraine has not only adopted cryptocurrency for charitable purposes; it has also authorized digital assets and developed its own nonfungible token collection in order to generate further revenue.