Since the start of the Russia-Ukraine crisis earlier in 2022, Ukraine has embraced the use of digital currencies in various ways. One such usage was when the country received numerous crypto donations during the heat of the war.
Meanwhile, recent reports reveal that pharmacies in the country are embracing crypto payments. A major pharmacy in the country has even partnered with Binance.
ANC Pharmacy Partners With Binance To Launch Crypto Payments
One of the largest pharmaceutical companies in Ukraine, ANC Pharmacy, has signed a new deal with Binance Ukraine. The aim is to enable crypto payments at its outlets, Huang, through the Binance Pay service option, a contactless cryptocurrency payment service.
On January 3rd, the company’s official statement was that users of ANC Pharmacy could make instant payments online for any of the products in their pharmacy.
Thus, this Binance pay option will be available at over 1000 ANC Pharmacy outlets scattered across Ukraine. Reports reveal that the pharmacy chain will launch the Binance Pay service in Kyiv before moving to other states.
In addition, the latest payment option will be usable at ANC pharmacies and ANC Pharmacy-operated stores such as Shara and Kopiyka. “Kopiyka, ANC, and Shara are the first European pharmacies to embrace this model of crypto payment,” the official report stated.
Also read:However, before using this crypto payment service, users must download the Binance app for Android and iOS. After downloading the app, they will visit the ANC.ua website, pay for any product of their choice and pick up the product at the nearest ANC pharmacy outlet.
Binance Expands Operations In Ukraine
Meanwhile, Binance exchange has been working to grow its presence in Ukraine. Earlier in February, a few weeks after the Russian invasion, Kirill Khomyakov, the General Manager of Binance Ukraine, stated that the firm’s top priority was to launch a Binance Card in the country.
Khomyakov stated that crypto payment options such as Binance cards do not go against the country’s law. Unlike China, crypto-based transactions are not banned in Ukraine.
However, local laws ban the usage of cryptos like BTC for direct payments. Last September, Binance collaborated with Varus, a supermarket chain in Ukraine, to allow Varus customers to buy groceries using the Binance Pay Wallet. In other news, Ukraine partnered with international consultants last month to upgrade its crypto framework.
Ruslan Magomedov, the National Securities and Stock Market Commission chairman, said regulators collaborate with USAID and Ernst&Young to integrate the European MiCa into Ukraine’s crypto market. Yaroslav Zheleznyak, a member of Ukraine’s Parliament, said, “the aim is to make cryptocurrency adoption safe and legal in Ukraine without disregard for the “do not harm” principle.”
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