60% of Weapons Suppliers to Ukraine Accept Crypto Payments
One year has passed since Russia invaded Ukraine, igniting a conflict that shook the world. Although the war has been going on for almost ten years, the February 2022 invasion of Russian forces was the culmination.
A recent report by Yahoo Finance UK has revealed that many companies providing arms to Ukraine for its defense against Russia are accepting cryptocurrency as payment.
Ukraine’s Deputy Digital Minister, Alex Bornyakov, has stated that around 60% of combat suppliers the country has done business with have been able to accept digital assets.
The use of cryptocurrency has proven to be more efficient than traditional currencies as it allows for purchasing essential items in a shorter period.
Furthermore, Bornyakov disclosed that some Russian nationals even donated cryptocurrency to Ukraine.
The Crypto Fund Air For Ukraine program was responsible for around 33% of the donations, hailed as an “absolute success.”
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Ukraine has been accepting several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), as well as Cardano (ADA), Solana (SOL), and Polkadot (DOT).
The war between Ukraine and Russia began in February last year after a long-standing territorial dispute between the two nations.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
