Binance Partners With Ukrainian Pharmacies to Allow Crypto Payments
One of the largest pharmacy chains in Ukraine – ANC Pharmacy – joined forces with Binance to enable customers to pay for medical products and supplies in cryptocurrencies.
The exchange has provided its services to the war-torn country numerous times over the past several months. It donated $10 million worth of digital assets to Ukraine shortly after the launch of the Russian “special military operation” and introduced a crypto card designated for Ukrainian refugees.
Buying Pills in Crypto
ANC Pharmacy announced that customers can purchase medical products in digital currencies instead of fiat. To do so, they should place their order via the company’s official website.
The initiative became possible after a collaboration with the world’s largest crypto platform – Binance. Users can download the exchange application, choose a certain product, settle the bill using Binance Pay, and can pick up the medicine at any convenient ANC location.
“First of all, the Binance Pay technology becomes available in pharmacies in Kyiv. We take care of your health while you take care of your cryptocurrency,” the firm announced.
Binance was among the first to financially stimulate Ukraine after Putin’s troops invaded the country in February last year. It distributed $10 million worth of crypto to support locals affected by the military conflict and established a donation web portal called Ukraine Emergency Relief Fund.
It has amassed nearly 2,936 BTC (as of writing these lines), equaling almost $50 million.
The trading venue also partnered with the financial service provider – Contis – to release the Binance Refugee Crypto Card. The feature enables departing Ukrainians to conduct digital asset transactions and complete payments at retailers in the European Economic Area, which accept cryptocurrency settlements.
Hard Stance on Russians
Initially, Binance was unwilling to freeze the accounts of Russian-based customers, claiming that many have no relation to the war in Eastern Europe.
The severe monetary sanctions that the EU imposed on Russia in April changed the trends, and the platform limited its services to Russian residents whose crypto holdings exceed the value of 10,000 euros.
It also terminated the accounts of some individuals associated with high-ranked Russian politicians. Examples are Elizaveta Peskova (the daughter of Vladimir Putin’s spokesman Dmitry Peskov) and Polina Kovaleva (the stepdaughter of Foreign Minister Sergei Lavrov).
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I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.