Bitcoin and other cryptos are now being accepted as means of payment at two of Ukraine’s largest tech retailers: Techno Їzhak, and Stylus.
Customers can now purchase products from each retailer using Bitcoin from their online stores, or from their combined 100+ retail locations.
- Per a report from the Ukrainian outlet Obozrevatel, Bitcoin payments at both companies will be facilitated through the crypto point-of-sale provider, WhitePay.
- When paying online, customers can pay in cryptocurrency through an acquiring form. In-person, WhitePay’s point of sale system will print a QR attached to a receipt of the transaction.
- The receipt includes details about transaction type, network, commissions paid, exchange rate, and time span of the transaction.
- WhitePay falls under WhiteBIT’s ecosystem – the largest cryptocurrency exchange in Europe.
- Through WhiteBIT, both companies will be able to accept 130 different cryptocurrencies – with more to come in the future.
- Whitepay CEO Gleb Udovichenko said the partnership is preparing Ukraine for the digital asset market.
“Ukraine is not the first year in the lead in terms of the number of cryptocurrency owners in the world and the volume of transactions,” he explained. “We provide buyers with more options for using their cryptocurrency assets.”
- That said, crypto adoption has grown in Ukraine ever since the nation was invaded by Russia. The country’s Vice Prime Minister solicited cryptocurrency donations from across the globe to support their cause, securing over $100 million worth of support.
- According to Ukraine’s Deputy Minister of Digital Transformation, those donations were “essential” in supporting the Ukranian war effort.
- In March, President Zelensky signed a bill into law legalizing cryptocurrencies, while designating certain regulatory bodies to overlook the sector.