Two Giant Companies Approves Payment Via Bitcoin In Ukraine

The adoption of the world’s largest cryptocurrency, BTC, has been at progressive highs for the past few months. Ukraine has been one of the latest countries currently adopting and putting cryptocurrency into use. 

Following the invasion made by Russia in Ukraine, the country has adopted BTC as a payment channel. Cryptocurrencies constituted most war donations, which were used to reinforce the Ukrainian army. Probably triggered by BTC adoption, two against tech companies have just announced their acceptance of cryptocurrency as a mode of payment in Ukraine.

Їzhak and Stylus Accepts bitcoin As a Mode Of Payment 

Two leading tech giants, Izhak and Stylus, made known the BTC acceptance of payment for goods and services purchased from the company. 

Although both companies cannot develop their channel to accept crypto payments, they will employ a payment infrastructure solution provider. Whitepay, an incubation arm of one of the leading crypto exchanges WhiteBIT in Europe, will facilitate the payments. 

The payment facilitator will develop necessary amenities for users to make BTC payments in-store and online. According to the announcement, the payment firm will be companies payment solution provider to facilitate easy transactions between the firms and customers. 

Both companies will employ Whitepay’s Bitcoin point-of-sale (POS) mechanism via an online and offline channels. The system will be available on different online platforms, media, and locations. 

For offline purchases, the POS will be made available in stores, in which the machine will generate addresses and QR codes. Customers will make payment to the generated address, and the device will print a receipt with the exchange rate, network, and gas fee charges.

Ukraine’s Demand For Bitcoin Use Grows As War Efforts Continue

The past few months have seen interest and adoption of cryptocurrencies grow astronomically in Ukraine. The use of bitcoin in Ukraine peaked following the Russian invasion in February. 

Before the Russian invasion of Ukraine, the country’s lawmakers enacted a bill that regulated the use of crypto and other digital assets. However, during the attack, the best way the government could accept donations was via virtual currency, in which the Ukraine president had to change the bill to allow for crypto donations.

After the lawmakers signed the virtual currency adoption bill, demand for BTC use soared in Ukraine. The government had used Bitcoin to accept donations to funds and reinforce its military after the destruction made by the  Russian Armies. 

According to Ukraine’s Digital minister, Mykhailo Fedorov, the military received over $50 million in cryptocurrencies. This effect has also increased the use of crypto by Ukraine citizens, accompanied by growing interest and prospects globally. The latest BTC adoption news in Ukraine was made known by a media outlet, Obozrevatel,which stated the source was impeccable.

Related Posts


Leave a Reply

Your email address will not be published.