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60% of Weapons Suppliers to Ukraine Accept Crypto Payments

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 an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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