Whitepay introduces crypto payments to ukraines tech stores. Thanks to a service offered by Whitepay, Ukrainians can buy electronics and other things using digital currency. Recently, the top computer retailers in the nation began accepting cryptocurrency payments thanks to the payment processor built by the digital asset exchange Whitebait, founded in Ukraine.
whitepay introduces crypto payments to ukraines tech stores, a cryptocurrency platform, introduces coin payments in Ukraine’s top IT stores.
According to the cryptocurrency news outlet Forklog, Whitepay, one of the platforms part of the ecosystem of the crypto exchange Whitebait, has enabled cryptocurrency payments for the goods sold by significant Ukrainian tech retailers.
According to the source, Tehnoezh and Stylus, who run important online platforms in the industry, are among the electronics stores whose consumers would now benefit from the new service.
Thanks to the connection, customers may make purchases using more than 130 different digital currencies. The list of supported digital currencies will eventually be expanded, according to the plan.
Cryptocurrency owners in Ukraine can make payments using their digital assets by filling out the relevant forms at online retailers or using specialized point of sale (POS) terminals that whitepay introduces crypto payments to ukraines tech stores put up at physical locations. The payment processor is in charge of system upkeep and client service.
In recent years, Ukrainians have been increasingly familiar with cryptocurrencies, and their nation has overtaken other Eastern European nations in terms of acceptance. Since Russia invaded the country in late February, Kyiv has taken moves to regulate the sector. Since then, the government and volunteer organizations have relied on cryptocurrency donations to fund their defensive and humanitarian missions.
Whitebait, a significant European cryptocurrency exchange with its headquarters in Estonia and origins in Ukraine, has taken part in similar initiatives. The trading platform and the nation’s Ministry of Foreign Affairs inked a memorandum of understanding earlier this year to collaborate on helping the country’s Anti-Crisis Center and aiding Ukrainian refugees through its representative offices abroad.
Other cryptocurrency businesses have also offered help. Ukrainians who were compelled to flee their homes because of the ongoing armed confrontation with Russia received a unique cryptocurrency card from Binance, the world’s most prominent digital asset exchange by daily trading volume.
Whitepay uses crypto currency for electronic shop purchases
Virtual tokens have been made available by whitepay introduces crypto payments to ukraines tech stores as a method of payment for electronics and other goods. The largest electronics stores in Ukraine now accept cryptocurrency payments thanks to a Fintech firm controlled by the country’s virtual asset exchange, Whitebait.
Electronic stores like Tehnoezh and Stylus have widely adopted this. The many consumers of Stylus, the largest online retailer in Ukraine, will now have the option to pay using cryptocurrencies. The new technology will make it easier for customers to pay for their purchases using 130 virtual tokens. Soon, more people will adopt virtual tokens as well.
The public in Ukraine has recently shown a positive interest in cryptocurrencies. Customers can now physically pay with virtual tokens when designated whitepay introduces crypto payments to ukraines tech stores Point of Sale terminals. Whitepay will help customers and keep the system working as part of the development. In the meantime, Ukraine has emerged as a significant player in the cryptocurrency industry. Regarding innovation and adoption of cryptocurrencies, the nation is a force to be reckoned with in Eastern Europe.
The government paid increased attention to cryptocurrency during the ongoing conflict with Russia. To stave off the advancing Russian soldiers, public and private organizations have created campaigns that have drawn cryptocurrency donations. In addition, the Ukrainian government has tried numerous times to regulate the sector effectively. This strategy has significantly aided the development of crypto despite the fighting.
Additionally, throughout the war, Whitebait made significant contributions to the welfare of Ukrainians. The exchange platform and the Ukrainian Ministry of Foreign Affairs have signed a Memorandum of Cooperation. In the MOC, Whitebait will support refugees through the board of its representative office and assist Ukraine’s Anti-Crisis Center. During the invasion, Binance also assisted Ukrainian refugees. Citizens displaced by the invasion received unique cards from the biggest cryptocurrency exchange in the world.
Some well-known cryptocurrency companies suspended their activities in Russia as a sign of support for the nation. Most of these organizations boldly chose to abandon the invasion and weaken the Kremlin’s determination. Additionally, they wanted to prevent Russia from adopting cryptocurrency to get around Western sanctions. This demonstrates how the crypto industry helped the nation of Eastern Europe during this trying time.
Bitcoin is now accepted by two of Ukraine’s biggest tech retailers
Techno zhak and Stylus, two Ukrainian tech retailers, now take both online and in-person as demand for bitcoin as a daily currency rises amid the war effort.
According to a report from the regional news source Obozrevatel, two of the most prominent technology merchants in Ukraine, Techno and Stylus, now accept bitcoin as payment for goods and services.
Whitepay, a payment infrastructure provider, acts as the foundation for facilitating interactions between customers and retailers. Whitebird, one of the biggest cryptocurrency exchanges in Europe, is a sister company of whitepay that introduces crypto payments to ukraines tech stores.
Both businesses accept Bitcoin for online purchases and at their retail locations, which total more than 100. The whitepay introduces crypto payments to ukraines tech stores bespoke point-of-sale (POS) system prints a QR code on a receipt for in-store transactions that lets businesses view the exchange rate, transaction type, network, commissions paid, and the duration of the transaction.
Following the Russian invasion, interest in and commercial use of bitcoin in Ukraine significantly increased. An “On Virtual Currency” measure that the president of the nation previously signed into law gave bitcoin a legal foundation for economic growth at a time when legislation prohibited the government from receiving bitcoin donations.
The bill was signed after an upsurge in demand for bitcoin as a daily medium of exchange brought on by a surge in bitcoin donations to military assistance organizations.
Minister of digital transformation for Ukraine, Mykhailo Fedorov, recently declared that $54 million in aid received via bitcoin and other cryptocurrencies was used to fund the intended military support.
