Ukraine’s Online Bank Ready to Release its BTC Debit Cards

Ukraine’s Online Bank Ready to Release its BTC Debit Cards

Monobank has got plans to issue debit cards denominated in BTC and to this end, it has appealed to the National Bank of Ukraine.

Just as the government of Ukraine is releasing its crypto laws, an online bank based in the country has announced its plans to release Bitcoin debit cards.

Monobank, an online means of banking, is almost set to have debit cards in Bitcoin after collaborating with a crypto firm. This was made known by Oleg Gorokhovsky, one of its founders.

Oleg mentioned that this is good for users who would like to buy and sell BTC through the bank. Monobank is ready to start immediately but wants the government to give the go-ahead order.

Monobank started three years ago by sharing the privileges granted to the Universal Bank belonging to Sergey Tigipko who has also governed the country’s central bank. In fact, Sergey was formerly the prime minister of Ukraine so he is indeed the son of the soil. About 11 months ago, the number of those that used Monobank was more than 2.5 million.

Other bankers in Ukraine also cherish Bitcoin and one of them is Gorokhovsky, a former top executive at PrivatBank who now holds a position at Monobank. Gorokhovsky’s said his doubts about Bitcoin’s longevity ended the moment Tesla bought $1.5 million worth of it. The banker went ahead to tell everyone that he even had to buy so much of it with the thought that 1 BTC won’t sell for anything less than $100,000 next year.

Ukraine is currently updating its rules for the effective regulation of digital assets in the country. According to Oleksandr Bornyakov who is the second in command at the ministry of Digital Transformation, the ongoing reform was activated after the senate considered the bill “On Virtual Assets” for the second time.

Last week, the country heads also began looking into payment methods with emphasis on the its own CBDC and the role it has to play.


The article posted herein is published by members of this site. Any information you find on this article is base on the opinion and view of the publisher. You are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this article.

Team Reviewparking is no third party and we can't handle any queries whatsoever.

Get involved!


No comments yet